Americanization of global finance (cont.)

Seth Ackerman SAckerman at FAIR.org
Thu Sep 23 11:36:09 PDT 1999


Doug Henwood wrote:


> Seth Ackerman wrote:
>
> >But why does the the yen keep appreciating? The Ronald MacKinnon
> >article from the Economist that I posted claimed it is due to "unresolved
> >trade disputes" which struck me as being somewhat vague.
> >
> > Anyone have any ideas?
>
> Capital inflows, I'm guessing. Japanese investors repatriating and
> foreign investors trying to play the "recovery."
>
>
>

But MacKinnon had a chart showing that this has been going on for 20 years. Remember last year when the dollar dropped like 20 percent in one day? That was before any signs of recocery in Japan. The yen seems to go in only one direction.

Seth



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