How Badly Will Yen Shock Hurt?

Just back from a 10-day vacation in New England, Koitsu Tsuchiya figures he couldn't have timed his trip much better. With the yen surging relentlessly against the dollar, the board member at Nikkei Business Publications Inc. in Tokyo spent a lot less in the U.S. than he would have earlier in the year. His family used their mighty yen to stock up on shoes, sweaters, accessories--even a fancy golf club. "Everything was so cheap," Tsuchiya exclaims. "It felt completely different than when I was in the States 12 years ago."

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