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Politics : Ask Michael Burke

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To: Mike M2 who wrote (77298)	3/8/2000 6:34:00 PM
From: BGR	Read Replies (1) of 132070

Mike, The Yen went from 147/Dollar to 104/Dollar when its growth prospects changed dramatically. Think that the unwinding of the carry trades had anything to do with this change in fundamentals? The unwinding of the carry trade was the vehicle and not the driver. It's a folly to focus on the former IMHO. Growth matters, however you cut it. -BGR.

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