I went to check the current foreign exchange rate of the U.S. dollar and the Japanese yen and the rate is lousy.
According to the Universal Currency Converter website, the rate is:
1.00 USD = 86.3829 JPY
According to Financial Times today:
The dollar fell below Y86 for the first time in eight months on Friday as mounting concerns about the US economy led to broader weakness for the greenback.
The slightly weaker than expected data on second-quarter US growth were the trigger for the latest move downward, but traders were also looking ahead to manufacturing and employment data next week that are expected to point to further weakness in the world’s largest economy.
The greenback fell to a low of Y85.93 before recovering to Y86.63 later in the day, down 0.9 per cent against the Japanese currency on the week.
The U.S. GDP (Gross Domestic Product) growth for the second quarter was an anemic 2.4%.
This does not bode well (at present) for Americans traveling to Japan.
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