Stronger yen prompts changes in spending

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Stronger yen prompts changes in spending
By Vince Little, Stars and Stripes
Pacific edition, Tuesday, March, 11, 2008

With the Japanese yen strengthening to a three-year high against the dollar, U.S. servicemembers and their families are tweaking their off-base shopping habits after the cost-of-living allowance recently dropped slightly at most military installations in Japan and on Okinawa.

Many Americans say they’ll curb outings to malls, grocery stores and restaurants outside the gates until the U.S. greenback recovers.

But some analysts forecast the weak dollar trend to continue in the coming weeks.

“I’m kind of scared to go off base now,” said Airman Ian McGonigal, assigned to Yokota Air Base’s 374th Operations Support Squadron. “I don’t want to have to spend a few extra dollars every time I take yen out to go off base.”

On Friday, the dollar’s exchange rate climbed to 101 at military banking facilities in Japan and Okinawa after dipping to 100 a day earlier.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=53200