JAPAN-Nikkei-Time to go back up? Message Board

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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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From: Julius Wong	12/4/2005 6:45:57 PM
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Yen Drops as Japanese Officials Suggest Unconcerned by Decline Dec. 5 (Bloomberg) -- The yen fell after Japanese Finance Minister Sadakazu Tanigaki and Bank of Japan Governor Toshihiko Fukui suggested at the weekend they weren't concerned about the currency's 15 percent drop against the U.S. dollar this year. Tanigaki said during the weekend's Group of Seven meeting of finance ministers and central bankers that the yen's exchange rate against the dollar reflects the performance of the world's two largest economies. Fukui said a weakening of the yen is ``not a problem.'' The yen is trading near its lowest since April 2003 as seven interest rate increases by the Federal Reserve this year have lured investors away from Japanese assets. Against the yen, the dollar rose to 121.23 as of 8:15 a.m. in Tokyo from 120.59 at 5 p.m. in New York, according to electronic currency trading system EBS. The dollar traded at $1.1695 versus the euro, from $1.1717. **** ** **** From the thread header, posted January 1997 120 Yen to a dollar.

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