Japanese Yen (JPY) exchange rate after LDP victory
The Japanese Yen rallied against most major currencies when it was announced that LDP had won a landslide victory against the Japanese Democratic Party (JDP). On 31st August 2009, the exchange rate for the Japanese Yen temporary became favourable, with the appreciation of the Japanese Yen against the US Dollar, Euro and the Chinese Yuan.
The question most people are asking is whether the Japanese Yen will continue its appreciation trend. It is hard to forecast the exchange rates of the Japanese Yen in the short term, as there are still uncertainties if the new leadership under the LDP can turn around the Japanese economy and ensure Japan can continue to maintain it’s position as the second largest economy in the world.
For tourists, it is unlikely for the Japanese Yen to depreciate largely during this transition period (where LDP assumes key cabinent positions). Therefore, the is little point deferring a trip to Japan just to save off for the best exchange rates.
For students, it is worthwhile to note that studying in Japan can be more expensive in the years ahead, (more…)
