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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (28275)	10/3/1999 7:42:00 PM
From: Don Green	Read Replies (3) \| Respond to of 99985

Weekly Forex Outlook: Dollar Seen Volatile Monday, October 4, 1999 TOKYO (Nikkei)--The dollar will likely move up and down against the yen this week, analysts said. The U.S. currency is widely expected to stay in the 103-110 yen range after trading at 105.92-105.95 yen at 5 p.m. Friday. The market consensus is that the BOJ's quarterly tankan survey will show an improvement in business sentiment at large companies. Dollar selling will prevail if the predictions are accurate, traders said. If the yen gains rapidly against the dollar, "fears of coordinated intervention to support the dollar will mount as market participants heed the comments of the recent G-7 meeting," said an analyst at Yasuda Fire & Marine Insurance Co. The joint communique, released after the Sept. 25 meeting of Group of Seven finance ministers and central bankers, said they share Japan's concerns about the yen's rise. The market will keep an eye on the Federal Open Market Committee meeting on Tuesday. It is widely believed that the U.S. monetary authorities will not raise interest rates. However, some believe that the FOMC will take a clear stance toward a tighter credit policy in a preemptive effort to stem inflation as crude oil prices are rising. If this is the case, stock and bond prices will come under selling pressure, prompting sales of dollars, traders said. (The Nihon Keizai Shimbun)