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To: Zeev Hed who wrote (12503)	12/29/1997 2:48:00 PM
From: Joan Osland Graffius	Read Replies (2) of 18056

Zeev, Re: Japan. If they fix their current problems, I think that would cause the Dollar to trade down against the Yen and Japanese corporations would not enjoy the margins they currently have today in our markets. I assume the Japanses Corporations are loosing exports to asia and their hope for export markets are here and Europe. If I were running a Japanese Corporation why would I want the Dollar to shore up against the Yen? I think I would want the widest margins possible. The Yen at 150 to the dollar would give me large profits to pay off my debt to my banker. What am I missing? Joan

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