U.S. Dollar Hits A Four-Year High Against Japan's Yen
STEVE INSKEEP, HOST:
Here's what's big in Japan - inflation. That's the start of NPR's business news.
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INSKEEP: OK. The Japanese currency, the yen, is falling like crazy against the U.S. dollar - which is just the way the Japanese central bank planned. The economy has been stagnant for nearly two decades, and a weak yen makes Japan more attractive to tourists and foreign investors.
It also raises the price of imports - such as energy. But officials are hoping the net effect is good. Will have to wait and see whether the move will turn around the Japanese economy, but traders seem to be hopeful. The Nikkei index was up today, and up 18 percent over the last five weeks.
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