NY Fed confirms intervention in currency markets

goingbroke

NY Fed confirms intervention in currency markets for first time in more than a decade

Text

CaptHenway

I still can't understand why the Yen was going up so much after the earthquake. The country took a big hit. This should weaken the country's currency, to my simple mind.

phantom1701

Yeah, I didn't get that either.

Perhaps the feeling is that because Japan is going to need to buy so much energy and materials from other nations that people shouldn't be taking advantage of the situation beyond just supplying for their rebuilding needs? I don't know if that even makes any sense economically, because you would think that in a situation like this with their economy and stock market taking such a hit that the currency would be devastated.

Japan is also a big buyer of US Treasuries. Perhaps that has something to do with it.

cohodk

Japan has had one of the strongest currencies over the last 20 years yet has also had the weakest economy.

Bear

To rebuild Japan will take several trillion dollars and a decade of effort. The unfortunate disasters may well trigger a

renewal in the here to for dormant deflation prone economy of the country. Out of dispare and destruction may yet arise

hope and transformation.

mhammerman

Would you rather have an honest yen or a cooked buk? The Euro is looking pretty strong too against the USD. Just looks like the USD is tanking and other currencies are reflecting this? JMHO but it seems like folk have been loving that yen for a while now.

Weg

<< <i>To rebuild Japan will take several trillion dollars and a decade of effort. >>



I understand they will be selling some of their hoard of U.S. Treasuries to get those needed dollars.