The Japanese yen eased slightly on currency markets after hitting a high of JPY88.24 against the US dollar in New York trading 28 September. Japanese central bank governor Hirohisa Fujii said the bank may intervene to push the yen down. The yen declined against all major Asian currencies. Japan’s export-dependent economy favours a weaker yen. The yen has strengthened about 16 percent this year, making Japan’s exports more expensive. But the new Japanese government has said that a stronger yen favours Japanese consumers by making imports cheaper.
Posted by Sean Ecker on 29 September 2009 at 10:11, last updated on 13 January 2010 at 12:19 | permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 29 September 2009.
Filed under: World news
Tags: consumers, currency trading, export-dependent, exports, Japanese yen, New York City, US dollar
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