August 17, 2007 |
The Japanese yen suddenly is the strongman of global money. The yen rocketed against the dollar, the euro and other currencies Thursday amid an unwinding of the so-called carry trade -- investors' use of low-cost loans in Japan to fund purchases of investments worldwide. The carry trade has been a favorite strategy of hedge funds and other big-money players for years.
July 7, 2002 |
As if they don't have enough to agonize over, California budget writers might want to add the shrinking U.S. dollar to their list of economic bogeymen. After appreciating 5% in 2000 and another 6% last year, the dollar peaked in February. Since then, it has been falling against both the Japanese yen and the euro. As of last week, the dollar had declined by more than 14% from its February peak against the two currencies and by greater than 7% against the British pound. Most observers believe the dollar will continue its slide.
December 27, 2001 |
The yen slid to new three-year lows in early trading today in Asia, after the Japanese government said industrial production fell to the lowest level in 14 years in November, led by weakness in major exporting industries. The yen was trading at 131.21 to the dollar, compared with 130.84 in New York on Wednesday. The currency had strengthened modestly Wednesday, halting a nine-day slide, after a Japanese finance official signaled that the government might try to slow the decline.
August 10, 2000 |
The euro currency's value fell again Wednesday, sliding below 90 U.S. cents and further worsening investment returns for Americans who own European stocks. U.S. tourists in Europe, however, are gaining new buying power with each uptick in the dollar versus the euro. Meanwhile the Japanese yen rose versus the dollar amid talk that the Bank of Japan could raise interest rates as early as Friday. The euro slid to close at 89.9 cents in New York, down from 90.
September 1, 1999 |
The dollar hit a seven-month low against the Japanese yen Tuesday, extending a trend that experts say stems more from Japan's economic recovery than any fundamental weakness in the U.S. currency. The dollar has also faltered in recent weeks against the euro, the European common currency, as the European economy has gathered steam. If the trend continues, the dollar's weakness could help boost U.S. exports at a time when the nation is running record trade deficits.
September 10, 1998 |
Stocks ran into a broad, sharp decline Wednesday, confirming why many Wall Streeters maintain a cautious stance in spite of the market's record-setting rally a day earlier. The Dow Jones average of 30 industrials--dragged lower by a sell-off of Procter & Gamble--dropped 155.76 points, or 2%, to 7,865.02, after surging 380.53 points Tuesday for its largest daily point gain in history. The U.S.