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By NEW YORK TIMES NEWS SERVICE | December 6, 2005
TOKYO -- The Japanese yen fell to a 32-month low against the dollar yesterday, continuing an almost yearlong slide that helps Japanese exporters but raises pressure on U.S. producers. In Tokyo, the yen traded as low as 121.39 yen to the dollar, its weakest point since March 2003. It has fallen 16 percent this year, from a high of 101.68 yen to the dollar Jan. 17. Against the euro, the yen touched a record low of 141.98. In New York, the yen weakened further to lows of 121.40 to the dollar, recovering to settle at 120.79.
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BUSINESS
April 22, 1993
Choice Hotels Canada joint ventureChoice Hotels International of Silver Spring and Journey's End Corp., Canada's largest lodging management company, said yesterday that they would combine their Canadian operations in a joint venture.The companies said they want the venture, to be named Choice Hotels Canada Inc., to have 400 properties by 1998. Journey's End will contribute 120 properties to the venture, while Choice Hotels will add 54. Choice Hotels is the worldwide franchiser of Clarion, Comfort, Econo Lodge, Friendship, Quality, Rodeway, and Sleep Inns.
BUSINESS
By Jonathan Fuerbringer and Jonathan Fuerbringer,New York Times | March 23, 1992
Since early January the dollar has been rallying strongly, a move that caught many forecasters by surprise.Behind the surge are some signs of economic recovery and a hint of higher interest rates this year. But there has also been a general scramble by investors and speculators to get ahead of the game, to buy the dollar early so that any rally will mean really nice profits."The market is largely speculative," said David Gilmore, senior foreign exchange economist at MCM Currency Watchin New York, "and you make money by getting on trends early on and promoting them as best you can."
BUSINESS
By Bloomberg Business News | January 13, 1995
NEW YORK -- The dollar tumbled against major currencies yesterday, suffering its biggest one-day loss against the yen in five months, as investors sought a haven from countries with large debt burdens, such as the United States, Canada and Italy.Concern that the United States is considering expanding its $9 billion credit line to Mexico to rescue it from its financial crisis also weighed on the dollar, traders said.The flight to countries with low debt started after Mexico's decision to devalue the peso Dec. 20, triggering a rout in its financial markets as foreign investors fled.
BUSINESS
By John E. Woodruff | May 15, 1994
After months of encouraging the dollar to fall against the yen, the Clinton administration approved this month when the Federal Reserve joined an international intervention to hold the line at 100 yen to the dollar. Would American businesses or the U.S. economy be affected if the dollar were worth less than 100 yen? Just how do exchange rates affect U.S. interests?Paul W. BoltzChief economist,T. Rowe Price Associates Inc.The question came to a head as the dollar approached 100 yen because that level has symbolic importance.
NEWS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | February 9, 2002
To understand John M. Rusnak's arcane world of currency trading, a good way to start is to think about taking a trip overseas and exchanging your dollars for, say, yen. Currency values change by the second and are influenced by a country's economy, politics, interest rates and stock market ups and downs. So if you exchange your dollars for yen Monday morning, you might receive 135 yen for every $1. But if the Japanese stock market plummets on bad economic news that day - or if the American stock market soars - you might get 137 yen for each dollar Monday night.
BUSINESS
January 18, 1991
Key world financial markets reacted yesterday and today to the attack on Israel:STOCKS: Prior to the attack on Israel, the New York Stock Exchange closed up 114.60 points yesterday to 2,623.51. This afternoon on the Tokyo exchange, which opened about the time of the attack, the Nikkei average was up 248.95 points at 23,695.76.OIL: February crude oil traded in the after-hours spot market was up $2 a barrel, U.S. traders said. Oil futures had fallen $10.56 to $21.44 a barrel in earlier trading.
BUSINESS
By Bloomberg Business News | September 3, 1993
NEW YORK -- Tough talk on interest rates from Germany's chief central banker and pessimism about the U.S. economy helped drive the dollar to a 11-week low against the German mark.Both the dollar and the mark gained against the yen, meantime, amid lingering speculation that Japan will cut interest rates to jump start its slumping economy.The dollar fell to 1.6430 marks at the close in New York, down from 1.66 marks late Wednesday and its lowest level since June 16. The dollar rose to 105.85 yen, up from 105.35 yen Wednesday.
BUSINESS
By Dow Jones | December 11, 1990
NEW YORK -- The dollar was mostly higher in choppy trading in New York compared to London early-afternoon rates, and mixed compared to New York rates late yesterday.In a market thinned as year-end approaches, midday trends for the dollar were particularly difficult to pinpoint, said Valerie Walker, vice president and corporate foreign exchange manager at Harris Trust and Savings Bank in New York.The dollar was quoted at 1.4736 Deutsche marks, up from 1.4725 marks both in London around 8:35 a.m. and late yesterday in New York.
BUSINESS
By BLOOMBERG NEWS | July 11, 2000
MILWAUKEE - Johnson Controls Inc., the second-largest maker of vehicle seats, agreed yesterday to buy No. 1 Japanese auto-seat maker Ikeda Bussan Co. for 19.8 billion yen ($185 million) in cash and assumed debt to boost sales in Asia. Johnson Controls will pay 120 yen a share for all of Ikeda Bussan, a unit of Nissan Motor Co., Japan's third-biggest carmaker, for 1.7 percent more than Ikeda's close Friday. The Milwaukee company will assume 9.1 billion yen in debt in a purchase it said will add "slightly" to fiscal 2001 profit.
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