Dollar tumbles to 18-month yen low

Source: afp



Dollar tumbles to 18-month yen low
Published: Monday November 12, 2007



The dollar on Monday tumbled below the 110-yen level for the first time in 18 months as jitters over the US subprime mortgage crisis led investors to seek out safe havens, dealers said.

The US unit hit 109.85 yen in Tokyo trade, dropping below the psychologically important 110 level for the first time since May 2006 as speculators exited risky trades.

.......The euro meanwhile weakened against both the yen and dollar. Last week the European single currency struck an historic high of 1.4752 dollars.

"The dollar's fall was triggered by a slide in global stocks and the inability of investors to assess further losses at major US and European banks" due to the subprime loans crisis, said Hachijuni Bank strategist Yoshifumi Suzuki.



Read more: http://rawstory.com/news/afp/Dollar_tumbles_to_18_month_yen_low_11122007.html

GRRRRRRRRRRRR!!!

She's Japanese and had a significant sum in Yen that she wanted to exchange, I told her to wait for a bit but she didn't listen!

It's the only way she's going to learn.

Oh, and in case anyone gets the wrong idea, this is, of course, a joke, mimicking the style of the likes of Pat Robertson and the Promise Keepers for maintaining the order and sanctity of the household.

She'd kick my ass!

I had a sneaking suspicion that there might be.

Yeah, the novelty wears off after the first ass-kicking!

Then you'll be in for a REAL treat!

:spray:

all the enablers, and the MSM keep telling us the economy is just racing along.

which goes by its own rules, in its own little world.

For what it's worth, the highest level the yen has ever been in the post-war era*, 78 for one US dollar, was reached in 1994, during the Clinton years, when Japan was in a recession caused by its real estate bubble that had burst a few years earlier. Four years later, in 1998, the yen had almost lost half its value against the dollar, trading at one time at a rate of 143 for one greenback.

These little gyrations today are nothing compared to the yen trading back then.



*From the 1870s until the early 1890s, one yen was actually valued at one dollar, and one Mexican peso was also valued at one dollar. How times have changed.

But yes it is racing along.