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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: HairBall who wrote ()	5/19/2000 9:52:00 AM
From: Box-By-The-Riviera™	Read Replies (1) of 99985

The headshot to the dollar??? Dollar Slumps to 3-Week Low Vs Yen NEW YORK (Reuters) - The dollar tumbled to three-week lows against the Japanese yen on Friday in U.S. trade, undermined by speculation Japan may soon end its zero interest rate policy and by America's deteriorating trade deficit. The dollar fell below 107.21 yen (JPY-) to its lowest level since April 28, according to Reuters data, shortly after the U.S. government reported the country's trade gap swelled to a record of $30.18 billion in March. The dollar had already lost around 1 percent against the yen overnight after Bank of Japan Governor Masaru Hayami said the prospect of an end to deflation fears in Japan was approaching. The yen also extended overnight gains to record highs against the euro, rising as high as 95.07 yen per euro (EURJPY-).

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