Sunday, September 07, 2003

Up and Down

Dear Mouse, I cannot understand these humans. In the Philippines, coup or any news about government destabilization attempts would bring the value of the peso against the dollar-down. Bad economy. My friend whose retired mother receives dollar pensions in the Philippines would quip "naincreasan naman si Mama" every time the currency exchange rate is favorable to the dollar. In Japan, on the other hand, the appreciation of the value of yen gives them jitters. It goes up against dollar, bad economy. Yen gives cause for jitters The Asahi Shimbun Japanese financial authorities are watching nervously as the yen appears to resume its ascent against the dollar.Upward pressure on the yen has been growing as more foreign investors buy the currency for purchases of Japanese stocks, which look more attractive with the Nikkei 225 index hovering above the 10,000 line.So the influx of the world's money into Tokyo stock markets could, ironically, become a negative factor for an economy still threatened by deflation and the question of nonperforming loans.``Should the yen rapidly appreciate under these conditions, it could hurt the expectation for recovery,'' a Finance Ministry official said.Takashi Yamanaka, senior economist of UFJ Bank, said, ``The current scenario of economic recovery, which is mainly based on the assumption that exports will increase, could collapse at once should the appreciation of the yen go on further.'' Mousey, I better leave the issues to the more cerebral group of bloggers. In the meantime, let me finish the book about Mother Teresa. The CAT


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