By Chris Haak
The Japanese Automobile Manufacturer’s Association (JAMA) and the Confederation of Japan Automobile Workers’ Unions (CJAWU) released a joint statement yesterday demanding that the Japanese government take immediate steps to reduce the strength of the yen. The current exchange rate between the yen and dollar is about ¥80 per $1 USD. Three years ago, it was ¥110 per $1 USD, so it’s gained 27 percent on the dollar in a fairly short timeframe. (A lower yen-per-dollar number means a stronger yen.)
