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| Above, the Saikai Bridge in Kyushu near Sasebo in 2007. Photo by Armand Vaquer. |
The dollar rose to a new seven-year high against the Japanese yen today when it briefly crossed over the 114 yen mark in Tokyo trading.
According to the Mainichi Shimbun:
TOKYO (Kyodo) -- The U.S. dollar held in the upper 113 yen zone in Tokyo on Tuesday morning, maintaining most of its gains from New York overnight when the U.S. currency rose above 114 yen for the first time since December 2007 on speculation Japanese and U.S. monetary policy are set to diverge further.
At noon, the dollar fetched 113.70-71 yen compared with 113.99-114.09 yen in New York at 5 p.m. Monday. Financial markets in Tokyo were closed for a public holiday on Monday.The dollar is coming close to the levels reached in April 2007 when I went to Japan and visited Kyushu's cities of Fukuoka, Nagasaki, Kumamoto and Sasebo. On that trip, I received 116 yen per dollar exchanged.
This is excellent news as travel to Japan is even more inviting for American travelers.
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