http://www.bloomberg.com/news/2011-08-04/japan-exporters-seek-more-aid-after-too-late-yen-intervention.html
“It’s like scratching your foot without taking your shoe off -- it’s not enough at all,” said Atsushi Horiba, president at Kyoto-based Horiba Ltd. (6856), the world’s biggest maker of devices to measure automobile emissions. The government is “too slow and it should have responded much earlier.”
Toyota, the nation’s biggest carmaker, has said that every one yen gain against the dollar cuts operating profit by 34 billion yen according to its current full-year outlook, which is based on 80 yen to the dollar. Nissan Motor Co. and Honda Motor Co. also expected the same exchange rate.
The strong yen cut Nissan’s operating profit by 55 billion yen in the first quarter. Japan’s second-largest carmaker would have posted a 20 percent gain in profit in the period if not for the currency, Corporate Vice President Joji Tagawa said July 27.
SAMEER SAYS
FOR ALL THOSE IDIOTS WHO SAY THAT THE US DOLLAR MUST DIE AND BE WEAKER AND HEAD INTO OBLIVION - PLS READ THE ABOVE ARTICLE
IF DOLLAR IS WEAK - OTHER NON USD FX ARE STRONG AND THIS IS NOT GREAT FOR EXPORT DRIVEN ECONOMIES LIKE JAPAN
YOU KILL THE EXPORTERS AND THIS IS WHAT YOU WANT TO ACHEIVE
SO STOP YELLING FOR A WEAKER DOLLAR - IT IS IN NOBODYS INTEREST
NOTHING CAN BE ONE WAY - SPECIALLY IN FX - TRY TO UNDERSTAND THIS SIMPLE BASIC MATH
“It’s like scratching your foot without taking your shoe off -- it’s not enough at all,” said Atsushi Horiba, president at Kyoto-based Horiba Ltd. (6856), the world’s biggest maker of devices to measure automobile emissions. The government is “too slow and it should have responded much earlier.”
Toyota, the nation’s biggest carmaker, has said that every one yen gain against the dollar cuts operating profit by 34 billion yen according to its current full-year outlook, which is based on 80 yen to the dollar. Nissan Motor Co. and Honda Motor Co. also expected the same exchange rate.
The strong yen cut Nissan’s operating profit by 55 billion yen in the first quarter. Japan’s second-largest carmaker would have posted a 20 percent gain in profit in the period if not for the currency, Corporate Vice President Joji Tagawa said July 27.
SAMEER SAYS
FOR ALL THOSE IDIOTS WHO SAY THAT THE US DOLLAR MUST DIE AND BE WEAKER AND HEAD INTO OBLIVION - PLS READ THE ABOVE ARTICLE
IF DOLLAR IS WEAK - OTHER NON USD FX ARE STRONG AND THIS IS NOT GREAT FOR EXPORT DRIVEN ECONOMIES LIKE JAPAN
YOU KILL THE EXPORTERS AND THIS IS WHAT YOU WANT TO ACHEIVE
SO STOP YELLING FOR A WEAKER DOLLAR - IT IS IN NOBODYS INTEREST
NOTHING CAN BE ONE WAY - SPECIALLY IN FX - TRY TO UNDERSTAND THIS SIMPLE BASIC MATH
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