rise of yen hits japanese stock market and my pocket
Monday, October 27, 2008 (10:42 PM)
after much contemplating due to the amount of money i'll be spending and the amount of time i'll be taking, i've finally decided on a period and duration for studies in japan next year.
just when i was about to confirm, the potential jobs almost put a halt to my plans. thankfully (ironically), the job wasn't what i had wanted and so my plans to leave for japan remained intact. and just when i finally submitted the application and was about to make the initial deposit, i realised that the japanese yen had risen from 70 to 61.
i decided not to make the deposit first.
now that the yen has showed signs of weakening, i'm hoping it falls back to at least a 69 if not 70. i need the good rates... it's really a heartache to see so much of your own money being reduced just 'cause some traders you don't know decided to stop doing carry trade in the yen.
let's all pray together for the yen to fall.
it's all for the good of japanese economy...
and my pocket.