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Article: Dollar's Fall Worries Japanese Officials
- Article from:
- AP Online
- Article date:
- November 18, 2004
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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YURI KAGEYAMA, AP Business Writer
AP Online
11-18-2004
Dateline: TOKYO
Masatsugu Asakawa has one of the busiest jobs in Tokyo these days: monitoring the U.S. dollar's fluctuation against the Japanese yen.
"I'm watching it carefully, practically 24 hours," Asakawa, director of the foreign exchange markets division at the Ministry of Finance, said with a weary smile.
Dollar-watching has become an obsession in Japan these days as the U.S. currency has fallen to seven-month lows against the yen, putting officials on edge.
The dollar was trading at 103.76 yen in Tokyo late Thursday, a four-and-half-year low, after hitting 103-yen levels overnight.
The dollar began tumbling in New York overnight ...