Late last year the Yen was trading at around $A0.78 cents
It’s currently trading at $A0.91 cents
Japanese girls can come down here and make some decent money
Hawking The Fork
I think Labia is saying last year AUD$1 was buying JPY 78 and now it's buying JPY 91Originally Posted by randomusernam2020
I remember from 2010 to 2013 AUD was higher than USD, it was freaking awesome traveling overseas, everything was so affordable.
If you’re being paid in Aussie Dollars
Last year $A1.00 bought 78 yen
This year $A1.00 buys 91 yen
Makes it cheaper for us to visit Japan
Now it makes sense, about the sudden surge of J Wls
I did mention this a while ago. JPY has been tanking big time against all other major currencies. It's because their OCR is still stuck at -0.1% (that's right, you actually lose money by keeping it in the bank there!) when all other OECD countries have increased their OCRs.
So they've devalued a great deal against the AUD, but hold on a second. You'd think we're in good shape, but are we?
Out of all OECD countries, we are actually the next big laggard in terms of OCR adjustment to fight inflation. The dumb as fuck RBA has been saying the same stupid thing on every monthly board meeting, still saying that inflation is only transient, when every central bank in the OECD have been jacking up interest rates. RBNZ for example, is already on their 4th rate hike, OCR is now 1.5%. Canada's OCR is now 1%.
Why does the RBA stick to 0.1% OCR? Who knows, maybe the elections, maybe Phil Lowe has 10s of investment properties that he has to offload first, etc. It's a fucking circus there that's for sure.
No bro, if anything, JPY is merely a sign of things to come for the AUD. It will go the same way as JPY as long as the monkeys continue running the show at the RBA.
The problem in Oz is household debt and huge government debt coupled with flatlining wages
Any rise n the OCR is going to cause a lot of people a lot of pain
You’re right, Australia is caught between a rock and a hard place when it comes to the OCR, but which country isn’t? Raising interest rates is never easy. Canada and NZ have some of the highest household debts in the world. Look at the government debt in the U.S., it’s insane. Yet the central banks in those countries are still doing their duties, still biting the bullet and raising the OCR when they clearly have to.
You can’t help but feel like there’s a serious conflict of interest problem in the RBA, political or personal who knows. Remember that central banks are supposed to be completely decoupled from the government of the day. It’s in their mandate.
What happened to rates not going to be increased until 2024? Are we in 2024 now?
Let’s hope Phill does the right things tomorrow and lift interest rates
Many new Japanese WLs are being advertised as young uni students here on temporary tourist visas and will be leaving back to Japan after few weeks or years but I have the suspicion that this is just a trick to get these WLs fully booked out. Most that I've been with said that they're on WH visas and are travelling to different cities. Some are also doing the typical ruse of changing into a student visa once their WH visa expires. No Japanese I know dare to break rules and work on a tourist visa, once caught they'll be deported and can't come back here for another 5 years. If they get such a record here it'll reflect on US & UK shared immigration record as well and none of them will risk such a thing.
Economy in Japan is getting worst by the day since their government still isn't opening up borders to tourists, therefore these WLs are taking every chance they can to come here and hopefully start a new life here. Before COVID-19 they were relying on Chinese tourists who would come like flocks of cockatoos over to their country hoarding Japanese electronics, pharmaceutical and home goods by the boatload.
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