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The financial crisis in Japan is deepening, and the main currency of the foreign exchange market is the rapid rise of the currency. The United States and Europe are in a serious fiscal crisis. In the foreign exchange market, the yen is against major currencies. The "independent gait of high round" will not stop. On the 24th, the market is open for a while, 1 yen = 90 yen, about 13 years and 2 months, 1 yen = 113 yen, high levelをrecordし、 Zhuanを One level, push it forward and push it forward. On the 24th, 2007 in the London market, the yen temporarily traded at 1 USD = 90 yen for about 13 years and 2 months, and the euro briefly reached 1 euro = 113 yen, reaching a record high level for the yen, and the stock market Further declines are fueling the momentum possible. Super yen high は 85 years and 95 years and the past 2 times き, output に頼る日本経済を flipping (ほんろう) した. The yen was super high for the past 85 years and the two happened in 1995, and the export dependence was at the mercy of the Japanese economy (Sports). This time, it is difficult for the financial authorities to intervene and effectively deal with the situation. This time, the intervening monetary authorities also struggled to find shots that were effective. Shimizu Kenji Shimizu Kenji [ ]

◇「 trapped るの日本だけ」 ◇ "Not only in Japan"

The recent high situation has been the past のどれともviolation. The recent appreciation of the yen is unlike any in the past. ドル安によってもたらされたではなく, background にはFinancial crisis に companion うBonkin のloss が対に小ないので「円がsecurity なcurrency としてBuy われている」(国际financesuji) ことがある. The reason put forward was the weakening of the dollar, rather than the background of the banking and financial crisis, which was the reason for relatively low losses, so "it is safe to buy the yen at the exchange rate," (International Financial Muscle). Omi Investment Bank's "円キャリー氪" will resolve the urgent issue and return funds in large quantities to buy and sell cars and hang them. US and European banks and investment funds, such as the "carry trade", are eager to settle and have a lot of money to buy yen to repay what it inspired.

Overseas investment funds are returned to the United States, and investment funds outside Japan are strong. The dollar's overseas investment funds returned from the United States, but the yen was quite strong. "これまでの excessive evaluation correction" (米シンクタンク)の面もあり、European countries intervened in the action of "はない". The fall in the euro and the "correction of overvaluation" (US think tank) in European countries is not a sign that intervention works.

The coordinated intervention of Japan and the United States ended in September 2000, when the project was stopped by Anno. The last leg of the intervention by the United States and Europe was in September 2000, when the euro was weak. Since 2001, Japan has been engaged in the problem of non-performing debt and the problem of bad debts and the background of the situation.イラルに歯正めを hangける「円安inducing "が実stateだった. Since 2001, Japan has repeatedly bought dollars for the yen best-selling intervention, and the yen has appreciated, instead of curbing the problem of non-performing loans, and contrary to the background of economic deterioration to curb the vicious cycle of deflation, "inducing a weak yen" has become Reality. In March 2004, Japan finally stopped intervening. Japan last stopped intervening in its exchange rate in March 2004. その后も, 円安 tend to が続いたのは, ファンドなどが円キャリーtake the lead を生発化させたからだ. Since then, the trend has continued with a weaker yen and active yen carry trades among funds.

The financial crisis in Japan has deepened since the Ming Dynasty, and it has been a substitute for the phase field. However, in the year since the beginning of a severe financial crisis in the United States, the exchange rate has changed. Mi Otsu Securities, ベア?スターンズが事実実実実実実んしたMarch には, ドルが全安となり, 1ドル＝95 円台まで円高?ドル安が. Major securities, the de facto bankruptcy of Bear Stearns (bankruptcy) in March, the dollar exchange rate fell completely and progressed as high as 1 USD = 95 yen per dollar. The Finance Ministers of the Advanced Group of Seven (G7) Central Banks (G7) are currently involved in the coordination and defense discussions. The meeting of finance ministers and central bank governors of the Group of Seven (G7 meeting) is temporary, and the dollar is also considering coordinated intervention in defense.

This time, the market is "Corporate performance is high and the performance is high" (JP モルガン?チェースBank).のSA々木曰) の说もある. , "The market is deteriorating corporate performance and the strong yen is in Japan alone. There is no reason to intervene in Europe and the United States" (JP Morgan Chase Bank, Toru Sasaki) said.

Japan's single high-level blockage intervention is unreasonable, and "the third day of single-handed intervention is unreasonable" (International Financial Musu). Japan alone spent hundreds of millions of yen to prevent possible intervention, but "even 10 yen in 3 days together with the flow of market intervention cannot be changed alone" (International Financial Muscle). The Ministry of Finance is concerned about the impact of market changes and the impact of intervention. The Treasury, "after unprecedented changes, the impact on the market, foreign exchange intervention cannot be read", is struggling.

◇ In 1985 and 1995, Japan, the United States and Europe coordinated. ◇ In 1985 and 1995, cooperation began with the United States and Europe. , the origin of "プラザ合意" on September 22, 1985. Trends in the foreign exchange market since the 1980s, the exchange rate of the yen against the US dollar on September 22, 1985, the origin of the "Plaza Accord". Himi Ying, Nishi Toru (at that time), Furuno 5 Country (G5) Minister of Finance (Financial Minister)? Central Bank of Japan, Central Bank of Japan Gao is right and agreeable. , the United States, Britain, West Germany (at that time), France 5 countries (G5) finance ministers (finance ministers) and central bank governors held a secret meeting at the Plaza Hotel in New York and agreed to correct the policy of a strong dollar.

At that time, the U.S. government was facing a sharp increase in military spending, large-scale tax cuts, and fiscal deficits. At the time, the Reagan administration's tax cuts and massive increases in military spending led to a rapidly expanding budget deficit. The purpose of the U.S. national debt is to prevent the government from losing money, to suppress the policy of high interest rates, and to take the policy of high interest rates. To promote the sale of US government bonds, high interest rate policy is a deterrent to inflation, but it causes more than $1. The international competitiveness of the rice industry, which has high profits and high profits, is low, and the economic situation is sluggish. The strong dollar and high interest rates in the United States reduce the international competitiveness of industry and weaken the economy. Companies are moving their production base overseas, which is accelerating the "hollowing out of industry" and causing employment insecurity. Companies turned to overseas production bases, "hollowing out industries" and accelerating widespread job insecurity. On the one hand, "Strong いドル" の恵で Cut An な Japanese product などの input は urgent increase した. At the same time, a "strong dollar" helps make Japanese products cheaper, as imports surge. In 1984, the United States became a pure debtor country and its trade deficit exceeded 100 billion. In 1984, the United States fell into a net debtor country with a trade deficit of more than 10 billion US dollars. The "twin deficit problems" in the fiscal and trade balances have become increasingly serious. Fiscal balance and trade balance, the "twin deficit problem" is a serious problem.

Parliament's action, protectionism's action, and G5's policy are both forced and forced. The G5 was forced to react to increasingly protectionist moves by the US Congress. そこで出たのが、为のドル高是正による Adjustment. Later on the rise, the dollar exchange rate adjusted for corrections. After the authorities of various countries reach an agreement, the coordinated intervention of the market will begin. The country's authorities intervened in the market early next week during the Plaza Accord, and dollar selling began at the same time. 1 ドル＝240 yen Taiwan だった円phase field は 1 year later にG5 no scenario を超える 1 ドル＝150 yen dai までhurt した. 1 US dollar = 240 yen One year later the exchange rate of the yen is assumed to exceed 15 billion yen per US dollar in the G5.

The price of Japan's economy has risen sharply, and the output of Japanese companies has dropped sharply. With the yen appreciating, Japanese companies are seeing sharp declines in dollar-denominated price increases and exports, and the Japanese economy is facing a high-yen recession. Due to the difficult situation, companies are cutting back on overseas production, and the United States is facing a major challenge. The dilemma comes as U.S. companies cut costs and compete in Asia, such as expanding overseas production. In order to change the body's physical strength, it can be strengthened. Amend the constitution to strengthen communication theory.

The second time was the spring of 1995. Then, the yen rose in the spring of 1995. The economy is collapsing, domestic demand is sluggish, Japanese companies are no longer dependent on exports, and the United States is facing a sharp increase in its trade deficit. As domestic demand slumped during the collapse of the bubble economy, Japanese companies increasingly relied on re-exports, and the U.S. trade deficit with Japan surged. クリントン正権は日本からのautomatic input urgent increase がhiring をthreatening かしていると advocate した. As the Clinton administration surges, car imports from Japan are threatening his job. The entrance of the U.S. country and Japan's high-induction industry are the first to intervene in the market, and the market will be closed on April 19, 2020. The repeated verbal intervention caused by the appreciation of the yen in the United States also helped the yen temporarily on April 19, with the dollar rising 77 to 75 cents. 円高不卡の来来は一区のコスト Cutと, アジア向けselling売拡大など対米dependenceの见直しに动いた. Recurring high yen recession, Japanese companies further reduce costs, expand sales as Asia and the United States shift to independent review.

The friction between Japan and the United States in reducing the friction between automobiles has been reduced, and the policy of the United States has changed. Japan and the United States are converging on auto friction, and U.S. policies are weakening the dollar. Mi Jingyi's retreat has made a profit, and the investor's assets have been divorced, and his assets have plummeted, and his sense of crisis has increased. The U.S. interest rate cut is an inevitable recession, and investors are staying away from U.S. dollar assets. A future plunge will increase the sense of crisis for the U.S. dollar. On the 25th after the 6th, G7 was in agreement with "The order of the ドルphase field". After six days on the 25th, 2007, the G7, "an orderly reversal of the dollar," he said. Japanese and American European and American coordination is good, and the next step is to buy and intervene, and to be super high and to close. Japan and the United States and Europe coordinated their intervention to buy dollars and lower interest rates, and merged with the super strong yen. Under the "strong policy" of the United States, Japan's trade and investment funds are still flowing into the U.S. market, and the country's growth is high and its strategy is high. Under the U.S. "strong dollar" policy, funds accumulated from Japan and other Asian dollar trade surpluses will be returned to the U.S. market as part of the country's strategy to continue stimulating economic growth. After その, Japan's scenery is in the doldrums もあり, and this time まで超円高は Visit れなかった. Then, with Japan's economy stagnating, the yen's supervisited RENAKATTA.

Technique. Borrow the yen with low interest rates, high interest rates and high-yield financial products and investment techniques for foreign exchange management to earn profits. The interest rate differentials of various countries are of great concern and can be used effectively. Global focus on interest rate spreads and the use of hedge funds. Japan's non-performing debt problem has been declining since the 1990s due to the economic downturn, and its financial interest rate policy and ultra-low interest rate policy have been in place for a long period of time. Japan's non-performing loan problem and economic stagnation in the 1990s, zero interest rate policy and ultra-low interest rate policy continued for a long time, inflating trade. ファンドなどは Borrow り入れた円をすぐに売って Foreign goods に substitute える tend to がstrong い. Funding and borrowed yen purchases of foreign currencies now have a strong trend change.