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

To: Don Green who wrote (35057)	12/11/1999 6:11:00 PM
From: Don Green	Read Replies (1) \| Respond to of 99985

Weekly Forex Outlook: Dollar To Trade In 100-105 Yen Range Sunday, December 12, 1999 TOKYO (Nikkei)--The dollar is widely expected to face strong resistance this week in yen trading amid strong hopes of a Japanese economic recovery, a factor encouraging dollar selling. Most market projections are for the dollar to trade in the 100.00-105.00 yen range during the week. The U.S. currency traded at 102.45-102.48 yen at 5 p.m. Friday, down 0.60 yen from late Thursday. Prior to the release of the Bank of Japan's quarterly tankan survey on Monday, many participants expect that business sentiment will continue to pick up on the heels of higher stocks. "If the survey shows clearer signs of an economic recovery (than market expectations), this would induce yen-buying," said an analyst at Nippon Fire & Marine Insurance Co. However, the dollar is unlikely to slip below 100 yen, analysts said, amid strong concerns that Japanese monetary authorities will intervene to prop up the greenback if the yen strengthens significantly. Moreover, the U.S. currency will receive support from eased inflationary fears after the U.S. producer price index, announced Friday, posted only a 0.2% rise in November. "The possibility of a steep dollar decline is dwindling," said an analyst at Bank of Tokyo-Mitsubishi. (The Nihon Keizai Shimbun Sunday edition)