Word: yen
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Quicker than you can say "currency speculation," the U.S. dollar has slumped to the lowest levels since last spring, completely wiping out the effects of a summer rally that had lifted the currency nearly 10% by late August, to a peak of 136 yen. Buoyed in part by a booming U.S. economy, the currency threatened to become strong enough to hinder progress in closing the trade...
...With the yen so strong against the dollar, Japanese investors have been snapping up prime pieces of U.S. real estate from Honolulu to Manhattan. None of these acquisitors is quite like 36-year-old Ikuo Hiyakuta. He gobbles up entire city blocks like so much cardboard. Then he builds row upon row of houses and hotels until his rivals are driven into bankruptcy...
...billion, up from July's $9.5 billion. While the deficit has been shrinking this year -- to an estimated total of $140 billion, compared with $170 billion in 1987 -- progress may be slowing. That prospect has aborted the U.S. dollar's summer rally. The currency fell last week to 128.25 yen, capping a decline of 4% since August. The plunging dollar reflected the belief among traders that a weaker currency will be necessary to wean U.S. consumers from foreign imports...
Shawcross ferrets out a wealth of political, diplomatic and intelligence detail, as well as a fragrant cache of jet-set gossip. In his prime, the Shah had a special yen for Lufthansa hostesses but also entertained a variety of lovelies flown in from Mme. Claude's in Paris. His other tastes were rich, but, oddly, Iran's leading personage did not eat caviar...
...would-be comedians struggling for recognition in a Manhattan night club. Even their jokes provoke more thought than laughter. Steven (Tom Hanks) is a medical school dropout whose comic routines are pointed reminiscences of his own failures as a student. Lilah (Sally Field), a New Jersey housewife with a yen for humor, fails miserably at first at the business of being funny. She resorts to time-worn Polish jokes--you know the type: "My husband's Polish. He gave me something long and hard when we got married...a last name." Understandably, these earn more catcalls than applause...