There may finally be some action on the Japanese yen as Japan's exports have fallen into a slump.
Besides making vacations more expensive to foreigners due to the poor rate of exchange (currently, the U.S. dollar is trading at 79.86 yen per dollar), it is also choking Japan's exports.
News On Japan reports:
The yen has risen 30 percent against China's yuan, 65 percent against the euro, and 80 percent against Sterling since 2008. Tokyo is itching to fight back.
Yen strength is Japan's curse. It rises on safe-haven flows during global downturns, choking the economy. This stems from Japan's bitter-sweet role as top creditor with $3 trillion of net assets.
If the Japanese devalues the yen on the foreign exchange, it will boost their exports (making them more affordable) and will give their tourism industry a shot-in-the-arm in giving foreign visitors more yen for their money.
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