U.S. DOLLAR HITS A NEW LOW AGAINST THE JAPANESE YEN

From Kyodo News

The U.S. dollar briefly touched a fresh record low of 76.25 yen Thursday in Sydney, easily breaking its previous postwar low of 79.75 yen marked in April 1995, on massive yen buying by risk-averse investors amid speculation that Japanese companies may sell dollar-denominated funds for the yen following the devastating earthquake and worsening nuclear crisis in Japan.

In New York on Wednesday, the dollar dropped to the lower 79 yen, hitting a 16-year low on growing global economic uncertainties and drops in U.S. stock prices, dealers said.

Yesterday I talked about about how the Quantitative Easing by the Federal Reserve coupled with the Bank of Japan Quantitative Easing would have a big effect on the USD / JPY exchange rate. Here we are 24 hours later and we already seeing the effects on the exchange rates between the two countries. As I said before yesterday the USD/JPY exchange rate is an important dynamic for the anime industry in both the U.S. and Japan. How this will affect both sides of the industry is unknown right now.