Japan chip makers won't follow Hyundai output cut
biz.yahoo.com
Japanese makers argue that they have already drawn up conservative production plans for the current business year, after suffering severe damage from weak DRAM prices in the business year ended March 31.
''Japanese makers have already shifted into production systems that suit the current market condition,'' said Mami Indo, analyst at Daiwa Institute of Research. ''They see no urgent need to change their plans at the moment.
Watch the market in action - When the yen touches 140 kaboom!!! next stop 110
From the WSJ June 4 article named "Dollar Rebounds From Lows
On Yen, Falls Against Mark"
But while the dollar's rebound against the yen emphasized its resilience, analysts said the Japanese currency remains oversold, and any signs of possible intervention by the Bank of Japan prompt traders to cover their short yen positions. That fear has kept traders from testing the psychologically important level of 140 yen, which the dollar hasn't breached in seven years.
"I think if you look at dollar/yen, it still looks a little vulnerable," said David Gilmore, partner at Foreign Exchange Analytics in Essex, Conn. "The market is very short yen. It wouldn't take much to initiate dollar selling."
140 is inevitable (IMEO) - E = Expert
Editing Mode -
Top Business/Financial News
Sun, 7 Jun 1998, 10:02pm EDT
Top Stories: Business and Finance for June 8
Dollar Tops 140 Yen; 1st Time Since June '91 on U.S. Strength
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