Posted on 10/20/2022 9:49:59 PM PDT by nickcarraway
The dollar hit the symbolic level of 150 yen (S$1.43) for the first time since 1990 on Thursday as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for intervention from Japanese authorities.
Moves among other major currencies were more muted with the euro at $0.9786 (S$1.36), struggling to regain ground it lost during a dollar surge the day before, while sterling extended its declines.
The fragile yen briefly weakened past 150 per dollar in early European trading for the first time since August 1990. It was last trading a little below that level, little changed on the day.
(Excerpt) Read more at asiaone.com ...
Time for that trip to Japan we’ve been planning !
When I moved to Japan in 1985 it was 280 yen to a dollar .
Wow, sushiman! Since 1985 — that’s living in Japan a very long time. I was stationed at the Navy Base in Sasebo, Nagasaki for three years and in 1983 left bringing my hometown Sasebo bride back to America where we’ve lived for 40 years (Boston burbs, the Poconos, and Georgia).
But earlier this year we decided to sell our Georgia home and try to retire in Japan. The immigration paperwork required was extensive, especially since my wife had become an American citizen. But a few weeks ago we got permission to enter Japan with a 5-year residential visa.
The sharp drop in the yen’s value this year made our savings and Social Security allowed us to prove we had a larger nest egg. And now of course, Japan is opening up its tourism big time again. Before Covid they had 30 million foreign visitors a years and that had dropped to a trickle: 1.5 million.
So we return to Nippon this coming Tuesday and will search for an apartment, perhaps a prefecture 1.5 hour train ride to Tokyo.
And a salute to my Dad who survived as gunner’s mate on an LST during D-Day Okinawa in WW2. Fortunately for he and his shipmates, they were positioned on the north side of Okinawa.
Most of the kamikazi attacks were against the capital ships (carriers, battleships, cruisers) on the South side of the island. This was the costliest battle in the War for the U.S. Navy, losing 5,000 sailors.
Sasebo city was hit with a few bombs during the war, enough to destroy local citizenship (proof of birth) records, so much of my wife’s family’s records were lost to fire.
But what probably saved Sasebo from more extensive bombing was that she is one of the finest typhoon haven harbors in the world thanks to its deep draft entrance and being completely surrounded by mountains.
Sure enough, the U.S. converted the large naval ammunition depot and port in Sasebo to our own naval base, and it remains today the second largest U.S. Navy port after Yokosuka near Tokyo.
When I left Japan in June 1961 the Yen was 360 to $1.
Lucky father!
Regards,
First time I say anyone mentioning Sasebo here on FR. I spent 7 years there stationed on 2 ships back in the mid 80’s and early 90’s. I loved the place.
"When I moved to Japan in 1985 it was 280 yen to a dollar ."
Sasebo is indeed a great place, shipmate. I was there in the early 80s before the base facilities were upgraded to allow homeporting again.
I actually got a chance to practice with the local city amateur ice hockey team. Great little city and the beaches on the other side of the harbor were simply beautiful.
Lucky son! him... he was :- )
"The immigration paperwork required was extensive"
International money orders have not been available at the post office for almost 3 years now .
Hey Bikkuri,
It’s outrageous...
You may want to check out the Wise money transfer service. We just got started using them. From your Japanese bank you can send money directly to at a favorable exchange rate and they can deposit it in the bank account of the person you want to send to in the States (converted to dollars, of course).
We used this service to send money to a real estate agent in Vietnam where we are currently living.
Well, sadly, I left there a couple of years ago... Eventually, if I can save enough, I will go back.
I AM curious if I can gain access to my Post Office money account though.
I left it open with a few dollars so that it would remain open. I haven’t gotten around to seeing how I could regain access yet though.
I do still have the card, but I don’t think they are usable outside Japan.
Good luck over there though.. I hope you enjoy the beauty :)
"International money orders have not been available at the post office for almost 3 years now ."
We went to London on the Soft Pound and Europe on the Soft Euro in the last few weeks. Planning on taking advantage of the soft Yen over the holidays.
In Europe, we rented a $75K Telsa Model 3 for $306 (including Taxes/2nd Driver) for a Full Week (Sun - Sat) and so far they haven’t charged us for any Supercharging.
I don’t know how much longer paying less than $100 USD to stay in a nice hotel will be a thing, but I’m going to take advantage of it while I can.
Australia is off the list until they kick out the greens & Covid-Fascists. Screw those guys.
You have cool stories pundit - always interesting reads...
What’s the U.S. dollar worth now 0.85 cents?.
Of course, hardly anybody had very many dollars in 1934, but still ...
Hard times now paging D. Trump.
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