Yen hits 3-yr high against dollar - Democratic Underground

TheReligiousLeft

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Fri Oct-10-03 06:53 PM
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Yen hits 3-yr high against dollar

The yen hit a near-three-year high of 109.76-78 yen to the dollar as of 5 p.m. Wednesday following the greenback's slide against the yen in New York trading Tuesday.

The 225-issue Nikkei Stock Average dropped 278.13 points to close at 10,542.2 due to concerns over the yen's adverse impact on export-oriented companies.

On the bond market, the yield on newly issued 10-year government bonds, an indicator of long-term interest rates, fell, resulting in a rise in bond prices.

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hedda_foil

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Fri Oct-10-03 07:02 PM
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1. Not looking good. Not looking good at all.

Edited on Fri Oct-10-03 07:05 PM by hedda_foil

Add in the talk of Russia moving its oil sales to the Euro and the size of the national debt, and we are in MAJOR trouble.

I'm going to go find the link to those threads in GD. I'll be back.

BTW, I LOVE your work, specially the graphic in my sig line!

on edit: Okay, here's the thread on Russia and the treasury debt.
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=159240&mesg_id=159240

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J B

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Fri Oct-10-03 07:37 PM
Response to Reply #1

2. Oii! Don't panic, the yen has been much stronger than this

You just have to go further back than 3 years...

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