Word: yen
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Dates: during 1980-1989
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...involve sustained efforts to boost Japanese consumer demand and thus imports. Japan also plans to encourage the lending of perhaps as much as $30 billion to Third World debtor nations. The prospect of the changes, however, did nothing to strengthen the U.S. dollar: last week it fell below 140 yen for the first time in more than 35 years...
...This is a major opportunity for expanding Japanese markets for U.S. goods and the buying power of Japan generally," he said. The U.S. senior official said lower interest rates in Japan would also tend to bolster the U.S. dollar against yen...
...reduce income taxes to encourage consumer spending, creating a greater demand for imports. The sales tax, they contend, would make up for revenue lost with the cuts. An increase in U.S. exports to Japan would then take the heat out of the trade war and help stabilize the soaring yen, which has made Japanese goods more expensive abroad. Still, despite an L.D.P. majority in parliament, both the tax and budget proposals face an uncertain future...
...imposition of sanctions suggested, Washington is skeptical about whether Tokyo has the will to correct its $58.6 billion trade imbalance with the U.S. Last week U.S. Treasury Secretary James Baker tried to allay Japanese concern about the yen by calling a further decline of the dollar "counterproductive." Nonetheless Baker complained that Tokyo's proposed economic reforms "are not yet government policy" and warned that "Japan still must do more...
...wild trading, the dollar hits new lows against the yen...