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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.27

+3.5%

Jan 12 4:00 PM EST

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To: robnhood who wrote (13546)	6/19/1998 10:31:00 PM
From: Alex	Read Replies (1) of 116853

Japan MOF official expects no G7 policy action TOKYO, June 20 (Reuters) - A Japanese Ministry of Finance official said on Saturday a meeting in Tokyo of senior finance officials from the Group of Seven nations would not produce concrete policy action and that market expectations of any measures were unrealistic. ''For us it is a matter of course, that G7 deputy finance ministers would not take take concrete policy action on their own,'' the official told Reuters prior to the start of the meeting at a central Tokyo hotel. As well as the G7 officials, senior finance officials from Asian nations are taking part in the gathering that will discuss Asia's economic crisis which has been influenced by the sagging strength of the yen. ''The people in the market had their hopes too high if they expected such action,'' the Japanese finance ministry official added. The yen fell sharply on Friday after U.S. Treasury Secretary Robert Rubin told Reuters in an interview that ''there will be no policy actions'' from the meetings involving his deputy Lawrence Summers.

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