Playing with words



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.

円続落、一時97円台=3カ月ぶり安値-東京市場

   25日の東京外国為替市場の円相場は、景気の先行きや政局混迷への懸念を背景に続落し、一時昨年11月下旬以来、約3カ月ぶりの安値水準となる1ドル=97円台を付けた。正午現在は97円06~08銭と前日比1円71銭の円安・ドル高。
   バーナンキ米連邦準備制度理事会(FRB)議長が、金融市場が安定すれば景気後退は年内に終わると議会で証言し、円売り・ドル買いが進んだ前日の海外市場の流れを引き継いだ。
   円は対ユーロでも急落。1月上旬以来の安値水準となる1ユーロ=124円台で取引された。正午現在は124円88~94銭と同3円32銭の円安・ユーロ高。 

Retrieved from Yahoo! News on 25 February

円【えん】Yen
続落【ぞくらく】continued fall (in stock, prices)
一時【いちじ】one hour; for a time; temporarily
台【だい】stand; support;
~カ月【かげつ】months (counter)
ぶり for the first time ~
安値【やすね】low price
東京【とうきょう】Tokyo
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
政局【せいきょく】political situation
混迷【こんめい】turmoil, confusion
懸念【けねん】worry, concern
背景に【はいけいに】against a backdrop of, in an environment marked by
昨年【さくねん】last year
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】)
以来【いらい】since
約【やく】approximately
水準 【すいじゅん】 level, standard
ドル dollar
付ける【つける】to attach
正午【しょうご】noon, mid-day
現在【げんざい】now, current, present, as of
銭【せん】hundredth of a yen
前日【ぜんじつ】previous day
比【ひ】ratio, proportion
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
制度【せいど】system, organization
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
安定【あんてい】stability
景気後退【けいきこうたい】recession
年内に【ねんないに】within the year, before the year is out
議会【ぎかい】 Diet, congress, parliament
証言【しょうげん】evidence, testimony
円売り【えんうり】yen selling
ドル買い【ドルかい】dollar purchase
進む【すすむ】to advance, to go forward ahead, to make progress
海外市場【かいがいしじょう】foreign market
流れ【ながれ】current, flow
引き継ぐ【ひきつぐ】to take over, to hand over
対【たい】versus, against
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
円安【えんやす】cheap yen
ユーロ高【ユーロだか】strong Euro

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.


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