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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (208448)	12/9/2002 12:59:04 AM
From: ild	Read Replies (1) of 436258

12/09 00:21 Dollar Falls Against Yen; Post Reports Snow to Replace O'Neill By John Brinsley Tokyo, Dec. 9 (Bloomberg) -- The dollar fell for a second day against the yen after the Washington Post reported that U.S. President George Bush chose John W. Snow, chairman of CSX Corp., as Treasury secretary. Bush's decision to replace ousted Treasury Secretary Paul O'Neill, formerly chairman of Alcoa Inc., with the head of the U.S.'s third-biggest rail system fueled speculation the administration may advocate letting the dollar weaken further. The dollar fell to 122.85 yen at 2:09 p.m. in Tokyo, from 123.51 late Friday in New York. It was also at $1.0111 against the euro, from $1.0094. The U.S. currency has dropped 6.7 percent against the yen and 14 percent against the euro this year. ``The appointment of someone from industry is disappointing for the dollar,'' said Shigehiro Kamimura, manager of the market trading department at Asahi Bank Ltd. ``It implies the U.S. won't tolerate a weaker yen.'' quote.bloomberg.com

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