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To: NickSE who wrote (57313)	8/19/1999 10:45:00 PM
From: NickSE	Read Replies (1) \| Respond to of 86076

Hmmmm... Japan forex policy not related to FOMC--Kuroda biz.yahoo.com TOKYO, Aug 20 (Reuters) - Senior Finance Ministry official Haruhiko Kuroda said on Friday there was no connection between Japan's foreign exchange policy and U.S. interest rate policy. Asked if the Japanese monetary authorities were watching the outcome of a Federal Open Market Committee (FOMC) meeting next week before taking action in the currency market, Kuroda told reporters: ''I know the schedule of the FOMC, but I have no idea what kind of outcome it will produce, and anyway it has nothing to do with our foreign exchange policy.'' <---Cough, Bullsh8t, Cough Kyodo news agency quoted ministry officials as saying on Thursday that the ministry is staying on the sidelines despite the yen's recent rise against the dollar, as it waits for the FOMC meeting. Kuroda said he could not comment on the possibility of intervention. Asked if a record high U.S. trade deficit would continue to weigh on the dollar against the yen, Kuroda told reporters: ''I don't think so.'' The U.S. Commerce Department said on Thursday that June data showed a 16 percent jump in the deficit from May to a record $24.62 billion.