DOLLAR ROCKS YEN
Whether or not the dollar's new 15-month high against the Japanese yen is good news or bad news for Americans depends on your perspective, says TIME's Adam Zagorin. Posting its third consecutive gain, the dollar hit 102.82 yen by late Thursday trading in Tokyo. "Secretary Rubin would applaud this development," Zagorin notes. "As long as the dollar is strong, people will continue to conduct international trade and business with the dollar, and to invest their assets in it. On the other hand, the dollar's strength versus the yen may further aggravate the U.S. trade deficit with Japan. Since we have a stake in re-energizing the seriously flagging Japanese economy, though, that's arguably a pain we should bear."
Most Popular »
- E.T. Turns 30: 10 Things You Didn't Know About Our Favorite Extra-Terrestrial
- Nevada Ghosts: Rare Photos From an A-Bomb Test
- Temple of Doom: Scientists Discover Peruvian Tomb Filled with Mummies, Infants
- 15-Year-Old Creates Test for Pancreatic Cancer
- Before and After D-Day: Rare Color Photos
- A Diamond Jubilee
- Marilyn Monroe: Early Unpublished Photos
- 10 Dangerous Products You Might Have in Your Home
- Obama Stumbles? Why the President's Right to Talk About Bain
- Etan Patz: After 33 Years, an Arrest in the Disappearance of the 'Milk-Carton Boy'
- Researchers Probe the Potential Health Benefits of Palm Oil
- A Visit with Turkey's Controversial Religious Movement
- Feeding the Planet Without Destroying It
- Bubble on the Potomac
- Falcon's Liftoff: How a Private Firm Could Change Space Exploration
- The Fatal Flight of the Superjet 100: Why Did It Slam Into a Mountain?
- Learning That Works
- The Man Who Remade Motherhood
- Bibi's Choice
- Seoul: 10 Things to Do
More News from Our Partners
Top Stories on TIME.com
Quotes of the Day »
RAY KELLY, New York City Police Commissioner, on the arrest of a New Jersey man in one of the nation's most baffling missing-children cases, the disappearance more than three decades ago of 6-year-old Etan Patz.
