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Politics : Formerly About Applied Materials

AMAT 298.92

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To: StanX Long who wrote (58562)	1/9/2002 3:56:11 AM
From: StanX Long	Read Replies (1) of 70976

Wednesday January 9, 2:46 PM Yen skids to three-year lows as Japan shows no concern By Chisa Fujioka sg.biz.yahoo.com TOKYO (Reuters) - The yen skidded to new three-year lows against the dollar on Wednesday after Japanese officials seemed to exude nonchalance over its fall. The Japanese currency has shed nearly 10 percent against the dollar and the euro in the past two months, depressed by Japan's poor economic outlook and an apparent willingness by authorities to allow it weaken. Piling pressure on the yen were comments by Japanese Economics Minister Heizo Takenaka in Washington overnight that he did not discuss foreign exchange levels in meetings with top U.S. officials this week. Takenaka also reiterated his view that the yen's level was not out of line with Japan's economic fundamentals. Those comments and no apparent U.S. protest over the yen's fall helped to push the currency to a new low of 133.37 per dollar in early trade -- its lowest level since October 1998.

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