Economic Crisis Hitting Japan Hard
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While the international economic crisis has effected almost every nation in some way, Japan's economy has been particularly struggling. The export based economy is finding it harder to keep funds flowing into the country with decreased demand for it's products worldwide, especially in the United States, where a recession which allegedly began in late 2007 has caused demand for autos & tech products, two of the United States' most popular imports from Japan, to fall sharply.
Should the crisis continue at this rate, the island nation will be forced to continue cutting jobs while hoping for an economic turnaround. This means a long road ahead in the long term for the JPY against most majors, including the greenback, which has been steadily rising over the past few months due to the relative security of the United States as a place for investments and the optimism brought on by new president Barack Obama's economic plans.