Word: yen
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Dates: during 1980-1989
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...Japan appeared before TV cameras with a major announcement. "Orderly appreciation of the main nondollar currencies against the dollar is desirable," said the five, and they "stand ready to encourage this." Blunt translation: the greenback is grossly overvalued in terms of how many pounds, francs, deutsche marks and yen money traders will exchange for it, and the five intend to cut the buck down to a more realistic size, obviously by selling dollars to drive down the price, though the five...
...traders are careful to stay in touch with their colleagues in other countries, comparing rates and making their interventions known. Each country naturally focuses on its own money. Last week the Bank of Japan snapped up yen to boost their value, while the West German Bundesbank concentrated on buying deutsche marks. The Federal Reserve swapped dollars for both currencies to support the actions of Tokyo and Bonn...
...many Japanese yen will it take to buy a U.S. dollar? What kind of insurance is going to be sold in South Korea? How many trees will be felled in Canadian forests, and how many pairs of shoes shipped out of Italy or Brazil...
...always attracted to publishing. He has written a book on management and a textbook on semiconductors. His articles have also appeared in FORTUNE, the Wall Street Journal and the New York Times. Last summer at a party during the Democratic Convention, Grove revealed to Mercury News editors his yen to write a regular column. He reports that the editors picked up the offer before they could down another drink. Perhaps price was a reason for the haste. Grove is paid $50 a week...
Since February, however, the dollar has fallen from its dizzying heights. It has dropped about 4% against the Japanese yen, 11% against the West German mark and 24% against the British pound. This trend will help American companies compete with foreign goods, and may eventually bring down the trade deficit...