For those considering contracts based SOLELY on the USD, an article in the International Herald Tribune from a few days ago states in part:-
"The dollar is falling! This (Bush) administration is content to let the dollar fall and bet that the global markets will glide the greenback lower in an 'orderly' manner.
Right. Ever talk to someone who trades currencies? 'Orderly' is not always in the playbook. Many analysts believe it needs to fall another 20 percent before it stabilises, meaning a substantial and painful rise in interest rates".
I was told by a colleague, last week, that he read an article stating that the JPY (Japanese yen) could rise to as much as 85 to the USD in the near future (currently it trades around the 103-105 mark, which is a 20-30% increase in what it was 12-18 months earlier. At the commencement of my initial contract in Japan, it was trading in the 138-143 region!!)
In other words, if you are considering a contract in Japan, it would be wise to have the remuneration pegged to BOTH the USD and the JPY.