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Politics : Formerly About Applied Materials

AMAT 322.51

+6.1%

Feb 6 9:30 AM EST

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To: StanX Long who wrote (61734)	3/8/2002 1:31:03 AM
From: StanX Long	Read Replies (1) of 70976

Yen Takes a Breather, Japan Warns By Chisa Fujioka marketwatch.nytimes.com{E4DA97EE-CFFD-4FA3-957F-0BDF2B89B8A8}&siteid=NYT&dist=NYT TOKYO (Reuters) - The yen took a breather on Friday after a meteoric rise overnight, but it looked resilient in the face of complaints from the Japanese authorities. With the dollar suffering its biggest one-day fall in two years and losing over eight yen in little more than a week, dealers had been on high alert, anticipating an attempt by the Japanese authorities to halt an export-crimping rise in the yen. Finance Minister Masajuro Shiokawa delivered early, saying Japan would consider action if it found any manipulative moves, though many were baffled by what he meant by "manipulative." His vice-minister with responsibility for currency policy, Haruhiko Kuroda, said recent forex moves were too rapid and not appropriate. He said he was watching the market with vigilance and would take action if needed. While the comments helped the dollar limp off earlier lows, traders detected a lack of urgency from officials who had chosen to comment on the pace of the yen's rise and not the level.

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