(ENGLISH ) Dollar against Yen 84.83 on friday!
Finance minister Hirohisa Fujii said he will contact US and European officials about exchange rates.
Japanese concern is that the Yen’s ascent will badly harm the economy, as the market is pushing the Yen stronger to test what is considered as an abnormal movement.
The yen’s strenght and the dollar’s weakness is not only a Japanese issue,
and we can always imagine a joint move manipulated by US and Chinese, a strong Yen, will be beneficial for both economies.
Traders remain sceptical about possible intervention of Japanese government.
Japan hasn’t intervened and sold its currency since March 16, 2004 when it traded around 109 against the Dollar. At that time the Bank of Japan sold 14.8 trillion yen during the first three months of the year .
In 2003 Japan sold 20 trillion yen for the same purpose.
The last time Japan bought Yen was in 1998.
The Dollar sell-off started on Wednesday (just before the black friday in the US) as investors interpreted comments from the Federal Reserve that the dollar’s decline was orderly, as a sign that it was not unduly concerned about the currency’s level.
Federal Reserve also mentionned that it will tolerate a weaker dollar in order to encourage investors to buy higher-yielding assets outside the US.
Head of Iron & Steel federation of Japan Mr Shoji Muneoka, is asking the Japanese government to act in order to prevent chaos in the Japanese economy.
America needs China, they don’t need Japan, in this war, we can see who will be the looser.
KUMANO : Here, is the sacred Kumano region , located in the southern part of the Kii peninsula. It is the heartland of the original religion of Japan, the Shintoism, it was before Buddism reached the island in the sixth century.
Later on, as Japanese took elements from each other, links were created between the Dities (Kami) and the Buddha. It’s more than worth your while, going on the sacred sites and Pilgrimage routes ( a millenium old) in the Kii mountains, this region shows the perfect relationship between nature and spirit.
« Sustainable » in Japan, is more an « attitude » of gratitude to nature, and a sens of detail, never reached in Western countries. Japan in this region is a symbiosis of spirit and nature, Shintoism considers this fantastic gift of nature as an expression of divinity.
On these pilgrimage routes you will meet the spirit of emperors from the Heian ( 790-1186) and you will reach the four major shrines of Kumano, Nachi, Hongu, Takahara, and Hayatama.
The Takahara shrine, protected by two cedar trees, was mentionned in a book written by a member of the powerful Fujimara family in the eleventh century.
When in Kumano, you will pass through spiritual purification rites, and the issue related to the strong yen will be forgotten.
Une erreur, any mistake, please contact : bj@abusinesstabloid.com
We have gone into a deflationary spiral.This intervention of Japanese government will have little effect.I think there’s essential problem because of some measures which are partial optimization we have promoted it since 1970’s.So It’ll take time to overcome this time’s stagnation in the economy in Japan.