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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (8263)	8/30/1999 11:10:00 PM
From: marc ultra	Read Replies (3) \| Respond to of 15132

Dollar down today along with bonds and stronger home sales, so far nothing encouraging about the possibility of the bull growing more legs or the likelihood of Bob avoiding a sell ollar Weakens vs. Yen Amid Fall in U.S. Stocks By SONOKO SETAISHI Dow Jones Newswires NEW YORK -- The dollar weakened against the yen and held steady against the euro Monday, hurt by a continued slide in U.S. stocks and bonds. Late Monday in New York, the dollar was trading at 110.70 yen, down from 111.60 yen late Friday. The euro was trading at $1.0469, virtually unchanged from $1.0460. The euro was also worth 115.90 yen, below 116.60 yen. Sterling was worth $1.5901, above $1.5887 late Friday. The Japanese currency gained ground against its U.S. and European counterparts amid growing sentiment that coordinated foreign-exchange intervention to stem its strength is unlikely for now. But trading in most other currencies languished in tight ranges amid a lack of fresh news and with London desks mostly closed for a public holiday in the United Kingdom. The foreign-exchange market fell victim to "hangover effects from the Greenspan speech Friday regarding the potential bubble in the U.S. stock market," said Jeremy Fand, foreign-exchange strategist at BankBoston in Boston. "If the U.S. asset markets experience some correction, the dollar will be hurt," he stated. The Dow Jones Industrial Average lost 176.04. or 1.6%, to 10914.13, while the benchmark 30-year Treasury bond fell more than a point, boosting its yield above 6% for the first time since Aug. 20. The renewed downward spiral in U.S. asset markets pressured the dollar against the yen, prompting market players to sell the U.S. currency to cut losses when it slid below the previous technical support level around 110.80 yen. The dollar traded as low as 110.68 yen -- slightly above its seven-month low of 110.40 yen reached last Wednesday.