Word: yen
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Dates: during 1980-1989
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...have a bad case of "Dance Fever" and house parties haven't satiated your yen to gyrate, the Currier House Dance Marathon can promise you a 12-hour cure today...
...Shawna Yen, Canaday/Union Dorms...
...more serious are both largely due to the high American budget deficit. Without some action to bring that down, all the moves started in the past month will not succeed. The importance of deficit reduction could be seen last week when the dollar rose in value against the Japanese yen, despite a massive attempt by the Bank of Japan to stop the increase. World currency speculators are still doubtful that the U.S. will do anything about the budget deficit and believe that the dollar will therefore not drop, as Baker and the leading Finance Ministers wish...
...major currencies that day alone. For the rest of the week, though, the dollar drifted down slowly enough, despite actual, coordinated sales by the five governments, to leave the long-range impact of the devaluation drive in doubt. Money traders believe the five governments have specifically targeted the dollar-yen exchange rate; the yen gained 8.8% last week against the greenback, vs. 5.8% for the French franc and 3.6% for the British pound. There is no question that a lower price for the dollar would reduce U.S. imports and increase exports: if a dollar buys fewer yen, then Americans would...
...half the trade deficit, and some estimates put the dollar's contribution (if that is the word) considerably higher. By the same token, Rimmer de Vries, a senior vice president of Morgan Guaranty Trust Co., figures that if the dollar's exchange rate could be reduced to roughly 200 yen and 2.4 deutsch marks (vs. 221 yen and 2.7 marks last week), with comparable drops against other major currencies, the U.S. trade deficit might eventually be whacked all the way back down to $50 billion...