(Just kidding).
It is bargain basement time, kiddies, for Japanese to buy up US real estate. Only their mid size and small size exporters depending on strong dollar are going to go belly up at this level.
YEN JUST ROSE BRIEFLY TO 99 Yen to the dollar. wow
Heh.
I love Japan. I worked near Shinagawa for a month. One of the most interesting countries (and cultures) in the world.
Good thing they make all those cars in America.
yitbos
Yes, a lot of dollars and a lot of euros are being turned into yen. It's at 98 right now, and everyone has to be wondering what the BOJ is thinking about this rapid strengthening.
We won't have the stats for a few days, but I have to wonder with so much liquidation going on around the globe that maybe some of the Japanese firms have decided to park cash back in Japan, even if they are buying a very expensive yen.
If the BOJ doesn't intervene, I have long thought that we see the yen go below 80, which I think is a much natural range.