News On Japan

Good time to buy yen with your dollars, history suggests

Dec 31, 2019 (Japan Times) - The last quarter of 2019 has been painful for yen bulls, but if history is any guide, good times may be just around the corner.

January has typically proved to be a favorable month for Japan’s currency, bringing gains against the dollar in seven of the last 10 years. Some Tokyo-based strategists expect a repeat in 2020.

The case for a stronger yen is backed by a seasonal pattern that sees the greenback typically weaken at the start of the year, as global investors sell their dollar holdings to make fresh investments overseas, according to Credit Agricole CIB.

The investment bank expects the dollar to also be pressured by the unwinding of positions by Chinese market participants ahead of the Lunar New Year holidays.

The dollar has gained against the yen “only once since 2014 in January,” said Yuji Saito, executive director of Credit Agricole’s foreign exchange department in Tokyo.

“Considering this, traders may want to sell the dollar around the end of the year or early next year.”

Bolstering predictions for a rebound, the yen has been sold off in the lead-up to the end of 2019. Demand has been sapped by improving U.S.-China trade relations, signs of a revival in global manufacturing and a decisive U.K. election result.

Japan’s is the sole Group of 10 currency to weaken against the greenback this quarter, having lost 1 percent since Sept. 30.

News On Japan
POPULAR NEWS

Toyota Motor will begin operating fully autonomous taxis in 2027 through a partnership with U.S. self-driving technology company Waymo, marking a major step in the Japanese automaker's efforts to expand driverless transportation services.

Mount Fuji has received its first snowcap of the season, the Japan Meteorological Agency announced on October 30, after temperatures at the summit plunged to minus 9.4 degrees Celsius, marking the arrival of winter conditions on Japan's highest mountain.

U.S. intelligence agencies suspect that a Chinese female intelligence operative developed a close relationship with Nvidia CEO Jensen Huang in an attempt to obtain confidential corporate and U.S. government information, according to a report published by The New York Times on October 29th.

The Japanese government has asked major telecommunications operators to forcibly block access to websites believed to contain personal information stolen in a cyberattack on GMO, it emerged on October 29th, as authorities moved to prevent further exposure of sensitive data online.

Typhoon No. 31 was located near Minamitorishima Island in the Pacific Ocean, as of 3 a.m. on October 30, and was expected to approach the Ogasawara Islands south of Tokyo over the October 31-November 1 weekend while maintaining very strong intensity, bringing a growing risk of dangerously high waves, powerful swells and extremely rough seas.

MEDIA CHANNELS
         

MORE Society NEWS

Japan's rapidly aging population is facing a growing crisis of elderly people dying alone at home, with grieving families sometimes unable to see their loved ones before burial and landlords increasingly forced to shoulder substantial cleanup and estate clearance costs when relatives abandon their inheritance.

Traditional Japanese crafts are finding an unexpected source of skilled workers in prisons across the country, where inmates are learning painstaking production techniques that build patience and concentration while helping preserve industries struggling with a shortage of craftspeople.

A Japanese woman in her 20s was found dead at an apartment complex in Cheonan, central South Korea, on October 29th, prompting police to detain a South Korean man in his 30s on suspicion of murder after he allegedly confessed to killing her because he had decided to commit suicide following stock market losses but could not bring himself to die alone.

Emperor Naruhito and Empress Masako hosted the annual autumn garden party at the Akasaka Imperial Gardens in Tokyo on October 29, welcoming approximately 1,400 guests, including actor Kotaro Yoshida and novelist Miyuki Miyabe, while female members of the Imperial Family attended in traditional Japanese attire.

A 59-year-old water sports rental shop owner in Omachi, Nagano Prefecture, has received a letter of appreciation from police after rescuing a paraglider who plunged into a lake on September 21, pulling the unconscious man from the water and performing CPR after discovering he was no longer breathing.

A married couple in Aira, Kagoshima Prefecture, have been arrested after police discovered cannabis plants growing in pots on the terrace of their home during a search connected to a separate investigation, authorities said on October 28th.

A woman in her 80s was killed after her car entered railway tracks on the Odakyu Enoshima Line in Fujisawa, Kanagawa Prefecture, shortly before 10:30 p.m. on October 27, with security camera footage showing the vehicle traveling along the tracks, passing an oncoming train and stopping with its hazard lights flashing before being struck from behind by another train.

A teenage male was rushed to a hospital after suffering an electric shock while putting away a motorized basketball hoop at a gymnasium in Kitakyushu, Fukuoka Prefecture, in an accident believed to have been caused by an incompatible extension cord, according to a report on October 27th.