Word: yen
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Dates: during 2000-2009
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...fish and rice from the minds of men in their 20s and 30s, the main consumer of the new Whopper. As of Oct. 30 Burger King had sold about 10,000 in a little over a week. The first 30 burgers in every store are priced at 777 yen (about $8.55), after which the pricetag doubles to 1,450 yen (about $16). (See the top 10 worst fast food meals...
...Gulf Arab states and China, Russia, Japan and France are working to end the use of the dollar in oil trading by 2018. Citing "Gulf Arab and Chinese banking sources in Hong Kong," the newspaper said the plan is to price oil using a basket comprising gold, euro, yen, renminbi and a new unified currency for the Gulf Cooperation Council countries...
...Australian dollar jumped 2.6% vs. the greenback after the rate hike was announced. The U.S. dollar also continued to fall against the euro, which ended the week at $1.47, up 1.2% from before the Australian move. Like the Japanese yen, the dollar has effectively become a carry-trade currency. People borrow in the U.S. currency and use the proceeds to buy the Australian dollar, profiting from the interest rate differential and also the greenback's downward spiral. (See pictures of TIME's Wall Street covers...
...fact that these assertions are being made at all shows how seriously confidence in the dollar has been shaken. The world's central banks are starting to shun the dollar. According to Barclays Capital, nations reporting currency breakdowns of their reserves invested 63% of new cash in euro and yen in the quarter to June 2009. It seems the U.S. will have to resign itself to a weaker currency until its economic house has been fully repaired...
...being the global currency a trader could most cheaply borrow. For much of the last decade Japan has been the world's largest moribund economy, with an economy so weak the Bank of Japan never dared to lift interest rates significantly above zero. During this time the Japanese yen was the currency traders loved. No longer, it seems. "The yen has become the least obvious carrying currency," says Credit Suisse's Desbarres, mainly because the near-zero interest rates Japan once exclusively offered are now available from central banks across the globe. Ironically, the yen today looks relatively strong compared...