BBC Learning English
Words in the News
15th September 2010
Japan moves to devalue Yen
Japan's central bank has begun selling Yen in an attempt to reduce the value of the Japanese
currency, which has been trading at 15-year highs against the US dollar. Theo Leggett
reports:
For much of the past three years, the Japanese Yen has been gaining ground against the US
dollar. That's bad news for Japan's biggest exporters.
In recent months, the government has been under increasing pressure to intervene, to prevent
the country's fragile economic recovery from being choked off.
However, Wednesday's announcement took many analysts by surprise, because Prime
Minister Naoto Kan had been widely seen as reluctant to take such a step.
Some experts have questioned the effectiveness of the move, without parallel actions from
other leading central banks.
Theo Leggett, BBC News, London
Words in the News © British Broadcasting Corporation 2010
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Vocabulary and definitions
gaining ground becoming stronger or more successful
exporters companies selling goods to other countries
intervene get involved in the situation
fragile easily damaged
choked off prevented from happening
announcement important or official statement
analysts people who carefully examine information or events
reluctant unwilling
effectiveness usefulness or value
parallel similar or connected, and at the same time
More on this story: http://www.bbc.co.uk/news/business-11308351
Read and listen to the story and the vocabulary online:
http://www.bbc.co.uk/worldservice/learningenglish/language/wordsinthenews/2010/09/100915_witn_japyan_yen_page.shtml
Words in the News © British Broadcasting Corporation 2010
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