Hit a low of 1.22 today! Bonkers!!
I\'m an idiot who knows nothing about finance and exchange rates, I leave that to my other half.
However, as hard as I tried, I just couldn\'t get my head around how the Yen is getting stonger when the various indices and stock exchange thingies are going south. I know it\'s not directly associated, but surely there\'s an intrinsic connection. I was half expecting it to drop like a stone?
It depends on how you look at "Getting Stronger" Exports for Japan is going to be a lot more expensive! There was a time when the ExRate was 230, but with it now at 125 that is a big difference. A car costing 2,000,000 Yen would have been £8696 Now it will be £16000 that is almost double!
As for the stone dropping...dont think it can go too much further! They were reporting that Japan has a very low credit rating! So much so, I think they are going to have to visit Cash Converters soon ;)
I was looking at the exchange rate on friday when it was 135. Last time I brought stuff from Japan I think I got a 245 rate!!
It will get worse.
Time to buy $ v Yen
Yen is now down at 114, how far can this drop? You would think this would be killing the export market for Japan?