Re: Repatriation of Japan's Money
Thread,
I sometimes get a chuckle out of a news story headline, but then it's on to the fine print to take away some of it's impact. Well the headline below was a good one. But then read on down to around the bottom of the article. This one made me laugh a little. Hmmm...I wonder if, "wrestling with its worst recession in half a century," is an important consideration? <VBG>
MikeM(From Florida)
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Dollar Falls Against Yen for Fourth Day
Rising Yields Speed Repatriation
March 10 -- The dollar fell against the yen for a fourth day to a one-week low as a rise in Japanese bond yields could speed the pace of the yen's repatriation before Japan's March 31 fiscal year-end.
Japanese exporters sold dollars to bring their overseas profits home. Rising bond yields could coax them to repatriate even more of their assets by making domestic investments more attractive. ''Japanese exporters are selling dollars,'' said Tetsu Aikawa, a foreign exchange manager at Sanwa Bank Ltd. ''The bond movement will decide the dollar's direction. If yields continue to rise, the yen will gain ground.'' Aikawa expects the dollar may slip below 120 yen throughout this month.........The dollar's fall, though, may be limited amid expectations U.S. growth will stay robust, while Japan is wrestling with its worst recession in half a century, some traders said. |
