The yen seems to be gaining against the US dollar which in my opinion is not very surprising. Japan has the auto industry going in its favor where as US automakers are having a hard time keeping their heads above water. The New US president is going to have a tough task on his hands as the US dollar steadily declines against the yen. Experts believe it’s not actually the US dollar that is declining in value but actually the Japanese Yen that is gaining strength against the US dollar. This really comes as no surprise as US automakers reported a loss for the last quarter of 2008.
The US economy isn’t doing very well and if we don’t watch out we could be following in the footsteps of England who has already plunged into recession. The best way to revive the US economy is by somehow bailing out US automakers who are really the bread earners of the US economy. If the bill passed to revive the auto industry goes though things can start improving.
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