The Surging Yen

After being weak for a long time, the Japanese yen is rallying. It just hit a 17-month high.

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The yen is nearing 110. Earlier this year, AFLAC (AFL) said “Our objective is to produce stable operating earnings per diluted share of $6.17 to $6.41, assuming the average exchange rate in 2015 of 120.99.”

Very roughly speaking, for every one point the exchange rate goes below 121, that adds three cents per share to AFL’s annual EPS.

Posted by on April 5th, 2016 at 10:14 am


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