Word: yen
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Dates: during 1980-1989
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...investment wave, driven by Japan's wealth and the power of the yen, has pushed real estate values beyond the reach of many Australian investors and has put Japanese companies in control of 18 major hotels and resorts. EIE Takahashi, which paid $110 million to acquire Sydney's Regent Hotel, has Australian investments valued at $400 million. Daikyo has poured $560 million into Australian property, including the Gold Coast International Hotel and the Brisbane Hilton...
DESCRIPTION: Yen per dollar, monthly averages, August 1987-June 1988; daily figures, June...
...enclave to city center to suburb. Design and architecture magazines and chic boutiques are full of the terra-cotta pots, vivid woven rugs and ceramic tiles of the Santa Fe style, and homebuilders around the country are busy slapping stucco onto plywood and chicken wire to satisfy a growing yen for adobe homes. At the same time, more public buildings are being constructed in a modern flourish on the Old World style of Spain, with arched porticoes, wide, shady courtyards and bubbling fountains. "I like a building that has a lot of romance in it, that isn't so sterile...
...overseas and foreign imports more expensive at home, the smaller dollar helped shrink the U.S. trade deficit to just $9.9 billion in April, the lowest in more than 2 1/ 2 years. But in the past two weeks, the dollar has climbed 5.9% against Japan's currency, to 133 yen at the end of June, and 3.7% vs. West Germany's, to 1.81 marks. That still leaves it 48% below its peak 3 1/2 years ago. So far, the U.S. has made no significant effort to halt the rise. But while the slightly stronger dollar has some benefits, like reducing...
...past year, Tokyo has spurred consumer demand at home and relied less on exports to fuel its economy, thus blunting charges of predatory trading practices. But Japan continues to refuse to allow the yen to be used as an international reserve currency, a move that would help protect nations that trade with Japan against wide foreign-exchange swings...