Abstract: In 2011, the Japanese economy can be described as a difficult autumn, when the economic situation to get rid of the global financial crisis, started toward the positive direction of development on an unprecedented scale "3 11" East Japan earthquake and the resulting Fukushima's first nuclear power plant nuclear leakage "from heaven". Then, the plot Yun has been a long time throughout Europe and the U.S. debt crisis engulfed once again led to the "super-appreciation of the yen (U.S. $ against the Japanese yen exchange rate fell below $ 1 dollar to 80 yen), which gave Japan an economic earthquake as severe as least as much as 3 • 11 "East Japan earthquake impact.
Keywords: background information of the East Japan earthquake, the Japanese yen exchange rate, abnormal appreciation
Background information
Since Japan's catastrophic earthquake, the yen soared, as the traditional safe-haven currency, the dollar is way down. 16 New York trading the yen against the U.S. dollar closed at 80.11 than 1. On the 17th morning Tokyo foreign exchange market, the yen against the U.S. dollar exchange rate was about 76 to 1, to refresh the highest level of post-war record in April 1995.
Northeast Pacific Ocean, Japan earthquake and resulting tsunami and nuclear leakage accident caused heavy loss of lives and property, resulting in a lot of damage to infrastructure, shortage of electricity supply, supply chain disruptions and social panic spread, the Japanese economy suffered heavy losses. The Japanese stock market has given this a panic reaction. March 15, the Nikkei 225 stock average fell to the lowest point of 8228, compared to 10 434 points before the earthquake, a decrease of 21.1 percent, creating a new record of Japan's post-disaster stock market decline. Then, after the Bank of Japan injected a large amount of liquidity to the money market emergency, the confidence of the Japanese stock market recovery, the Nikkei 225 Stock Average stock index rebounded to around 9600 points. In sharp contrast with the violent decline of the Japanese stock market, the yen exchange rate has not only devalued, but out of a period of abnormal skyrocketing prices. March 16, the yen-dollar exchange rate once rose to 76.25:1 yen in the four trading days after the earthquake cumulative appreciation of 8.9%, the highest level of post-war history. Quantitative easing monetary policy and the joint action of the joint intervention of the Group of Seven (G7) in the new round of the Bank of Japan, the yen exchange rate correction, and has been hovering at 80 yen / dollar above the. |
