Good and Bad. Seems I came to Japan at just the right/wrong time financially. Good if I want to save up my extra Yen and bad if I wanted a good USD exchange rate. Time to convert a lot of USD in JPY!!!
Japan’s currency was the best performer in September and the only currency to appreciate against the dollar as a credit- market collapse drove Lehman Brothers Holdings Inc. into bankruptcy and sent borrowing costs in Europe to record highs.
Deutsche Bank AG, the biggest trader of foreign exchange, says the yen will rise 5 percent in coming months. New York- based Morgan Stanley is telling clients to buy the currency versus the euro and the pound.
“We are in a multi-year trend reversal,” said Paresh Upadhyaya, a senior vice president at Putnam Investment LLC in Boston, who helps manage $50 billion in currency assets. “We are going to see a global central bank easing cycle. The yen is the place to be in this environment of economic slowdown and heightened volatility.”