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Politics : Formerly About Applied Materials

AMAT 329.07

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Feb 10 3:59 PM EST

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To: StanX Long who wrote (61645)	3/7/2002 3:57:02 AM
From: StanX Long	Read Replies (1) of 70976

Yen Leaps to 10-Week High March 07, 2002 03:17:00 AM ET news.moneycentral.msn.com By Chisa Fujioka TOKYO (Reuters) - The yen extended a week-long rally to hit a 2-month high on the dollar and the euro on Thursday, powered by talk of fund flows into Japan and options-related buying. In a choppy session dictated by plays on option and stop-loss levels, the yen's advance was also given fuel by an apparent indifference by Japanese authorities to see it strengthen. The market had expected officials to unleash warnings against an export-crimping rise in the Japanese currency after it jumped nearly two full yen on the dollar overnight. But a string of lukewarm comments from Japan's forex chief, Haruhiko Kuroda, in the morning set the mood for a decisively yen-bullish session. Tripping options positions at 130.50 and heavy stop-loss selling at 130.00, the dollar reeled to a 10-week low of 129.40 yen in Tokyo, bringing its losses in the last week to no less than five yen. By late afternoon, it hung at 129.65/75 yen.

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