US dollar hits highest level against Yen in 6 years; strong US currency influencing Seafood Trading
SEAFOODNEWS.COM by John Sackton - Sept. 18, 2014
The US dollar hit a six year high against the Japanese Yen this week. As the US dollar gets stronger against a range of currencies, it is impacting US seafood trading.
First, for importers, the US is becoming a more attractive market - whether for shrimp, king crab, snow crab or salmon, as the strong dollar gives an advantage to buyers who pay in US dollars.
We have already seen that the US demand for shrimp has reached record levels, and has grown far more than in Europe
At the same time, the Euro is weakening against the US currency, as signs point to lower or even negative interest rates in Europe...
(chart- USD vs. Japanese Yen - Yahoo Finance)
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