Currency Trading News
Shouldn’t it be Good News for Japan to have a Strong Currency?
According to my currency app, about 83 Japanese Yen can be traded for just 1 US Dollar. In other words, 100 Yen = $1.20.
When the Yen was on the rise, I kept hearing news about how bad it is for Japan because of the Import and Export rates or something.
But aren’t there any good news that comes with a strong currency? Like is this the reason why we’re seeing more Japanese tourists visiting Hawaii, USA? Isn’t it good because you get to travel to countries with a weaker currency and spend a lot more money than do the locals?
yes, the exports gets weaker as japanese goods are more expensive, coupled with more import as import is cheaper. This caused the net export to be in greater deficit. Net export = export – import
GDP = C+I+G + NX(net export)
when NX is in deficit, it caused the GDP to be reduced.
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