Dollar Steady Vs Yen In Asia After Plummeting Overnight – Wall Street Journal
The dollar remained steady, albeit in a lower range, against the yen during Asian trading Friday after it fell overnight to a three-month low following weaker U.S. manufacturing data.
http://online.wsj.com/article/SB10001424052702303360504577411283387224216.html
I don’t say you win when you lose to be funny, it’s true in an economic climate when you need to drive the economy. By China keeping their currency at a lower that market value a Chinese business that exports can benefit from the variation in the currency value. Therefore when the Yen is strong against the dollar it is bad for Japanese businesses who have to sell their product at higher prices when they are exporting to the US market. Currently with the Yen at this level it is hard to imagine that the Japanese economy can grow through exports to the United States, but this should be a great time for exports from the United States to go into Japan. Eventually something will happen, but for now it’s good to have a weak currency when your economy at home is faltering.