Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 9, 2008 7:04:17 AM CDT

Learn about Newser Points »

Back to the grid

Dollar Sinks Below 100 Yen

Posted Mar 13, 08 5:10 AM CDT in World,  Business    Most Covered

(Newser) – The dollar's decline continued today, dropping below the symbolically dramatic threshhold of 100 yen for the first time in 12 years. The greenback held on just above ¥100 during the trading day in Tokyo before slumping to ¥99.80 in Europe this morning. The dollar took a pummeling across the board, trading at record lows against not only the yen but also the euro and the Swiss franc.

The strong yen is causing no rejoicing in Tokyo; its potential drag on exports drove down the Nikkei by 3.3%, hitting its lowest point this year, reports the Financial Times. One Japanese economist estimated that a hundred-yen dollar could shave off half a percent from the country's GDP over six months. The dollar last broke the psychological barrier of ¥100 in September 1995.

Source Financial Times (UK)

Editor Recommended

Related News

  • Can Fish-Hungry Japan Go Sustainable?

    Jun 26, 08 7:16 AM CDT
    Can Fish-Hungry Japan Go Sustainable? Japan loves its fish: The island nation consumes an average of 147 pounds per person a year, compared to America’s 17. So, Samuel Fromartz wonders in Gourmet, how can Japanese fisheries continue to support supermarket fish counters as large as an entire US meat section? The answer, slowly gaining ground, is sustainable fishing, and retailers’ desire to have an eco-friendly stamp. More »

  • Dollar Soars to Biggest Weekly Gain in 3 Years

    Jun 13, 08 5:21 AM CDT
    Dollar Soars to Biggest Weekly Gain in 3 Years The dollar posted its biggest gain in almost 3 years this week, soaring 2.5% against the euro and 2.8% against the yen. This morning in London the dollar was trading at $1.54 against the euro, with analysts predicting a rise as high as $1.45 by year's end. European politicians are delighted with the greenback's resurgence; Christine Lagarde, France's finance minister, called it "very satisfying." More »

  • Tokyo Killer Warned of Slaughter Online

    Jun 9, 08 9:04 AM CDT
    Tokyo Killer Warned of Slaughter Online The young man accused of killing 7 people in a knife rampage in downtown Tokyo warned of the attacks in a series of messages to an Internet bulletin board, reports the AP. Tomohiro Kato, who rammed his truck into pedestrians before stabbing 17 of them, posted warnings from his cell phone, including one only 20 minutes before the attack that read simply, "It's time." More »

  • 7 Killed in Tokyo Stabbing Spree

    Jun 8, 08 7:36 AM CDT
    7 Killed in Tokyo Stabbing Spree A Japanese man plowed his truck into Tokyo pedestrians before jumping out and stabbing them, killing at least 7 and wounding 10 more, the AP reports. Police nabbed a 25-year-old man in the attack, which occurred in the city’s leading electronics district, a hotspot for young people. The suspect announced he had come “to kill people,” said a police spokesman. “He said he was tired of life.” More »

  • Japanese Melon Sells for $6K

    Jun 6, 08 10:05 AM CDT
    Japanese Melon Sells for $6K A rare black watermelon, one of 65 from Japan's first harvest of the year, sold for more than $6,000 at auction today, the AP reports. The Densuke melon has the distinction of being the most expensive of its kind in Japan, and probably the world, though the Guinness World Records organization points out that it does not keep track of watermelons. More »

Money traders work at a Tokyo dealing room as the U.S. dollar falls against the Japanese yen as low as 99.84 yen Thursday afternoon, March 13, 2008.   (AP Photo/Kyodo News)
Money traders at a Tokyo dealing room work as the U.S. dollar is traded at between 99.94 and 99.99 yen Thursday afternoon, March 13, 2008.   (AP Photo/Kyodo News)
A 100-yen coin. The dollar dropped below ¥100 for the first time in 12 years.   ((c) MShades)
prev    next
play

Threads (1 of 3)

Tags

Japan  • US dollar  • Nikkei  • Tokyo  • yen


Loading...

Loading...

Related Threads: Japan, Not-So-Almighty Dollar

Next story from this section »

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »