Bernanke’s playing (with) the market
Hmm, yet another bit of econ. Perhaps I need to get my mind off of money, but it does tend to take over one’s life, doesn’t it? I’ll try something a bit more fluffy again tomorrow, if I can. Oh, exchange rates–how you play with my heart. And my money.
Either way, a useful way to introduce the phrase 円高, which has been quite the catchword in the past year or so in Japan and probably doesn’t show up in many classrooms or textbooks. Also the obsolete but fun to remember 銭.
Retrieved from Yahoo! News on 25 February
続落【ぞくらく】continued fall (in stock, prices)
一時【いちじ】one hour; for a time; temporarily
ぶり for the first time ~
市場【しじょう】the market (as a concept)
東京外国為替市場【とうきょうがいこくかわせしじょう】Tokyo Foreign Exchange Market
円相場【えんそうば】yen exchange rate
景気の先行き【けいきのさきゆき】economic prospect, future of the economy
背景に【はいけいに】against a backdrop of, in an environment marked by
下旬【げじゅん】last-third of a month (compare to 上旬【じょうじゅん】and 中旬【ちゅうじゅん】)
水準 【すいじゅん】 level, standard
現在【げんざい】now, current, present, as of
銭【せん】hundredth of a yen
円安ドル高 【えんやすドルだか】depreciation of the yen against the (American) dollar
バーナンキ (Ben) Bernanke
米連邦【べいれんぽう】US federal (agency, etc.)
準備【じゅんび】preparation, arrangements, reserve
理事会【りじかい】board of directors or trustees
議長【ぎちょう】chairman, speaker, president
金融市場【きんゆうしじょう】money market, financial market
年内に【ねんないに】within the year, before the year is out
議会【ぎかい】 Diet, congress, parliament
進む【すすむ】to advance, to go forward ahead, to make progress
引き継ぐ【ひきつぐ】to take over, to hand over
ユーロ euro (the currency)
急落【きゅうらく】sharp fall, sudden drop
取引される【とりひきされる】be quoted at
同【どう】the same, the said
直訳 (literal translation)
Tokyo market: yen continues to fall, temporarily reaching 97 yen, the lowest price in 3 months
The yen exchange rate at the Tokyo Foreign Exchange Market on the 25th continued to drop, amid the background of worries about the future of the economy and political turmoil, at one point reaching a 3 month low since the end of November of last year of the low level of 1 dollar to 97 yen. As of noon today, at 97 yen and 6 to 8 sen, the yen is cheap and the dollar is stronger by 1 yen and 71 sen.
Chairman Bernanke of the US Federal Reserve Board (FRB) has testified in congress that if the money market stabilizes the recession will be over within the year and sales of the yen and buying of the dollar advanced yesterday, pulling the foreign markets into their current.
The yen has taken a sharp drop against the euro and has been quoted at its lowest level since the beginning of January: 124 yen to the euro. As of noon today, at 124 yen and 88 to 94 sen, the yen is still cheap and the euro strong by 3 yen and 32 sen.
意訳 (slightly more liberal translation)
Tokyo market: Yen continues to fall, reaching 3 month low of 97 yen to the dollar
The yen exchange rate at the Tokyo Foreign Exchange Market today continued to drop, amid worries about the future of the economy and political turmoil, at one point reaching 97 yen to the dollar, the lowest exchange since the end of last November. As of noon today, it remains at 97 yen and 6-8 sen to the dollar, leaving the yen cheap and the dollar stronger by 1 yen and 71 sen.
The chairman of the US Federal Reserve Board, Ben Bernanke, has testified in congress that if the money market stabilizes the recession will be over within the year, and yen sales and dollar buys picked up yesterday, pulling the foreign markets with them.
The yen has taken a sharp drop against the euro and has been quoted at its lowest level since the beginning of January: 124 yen to the euro. As of noon today, at 124 yen and 88-94 sen to the euro, the yen is still cheap and the euro stronger by 3 yen and 32 sen.