Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (58007)	1/16/2001 1:50:31 AM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

Looks like it's time to crank up the ClownBuck Deathwatch once again: quote.bloomberg.com 01/16 01:26 Dollar Falls vs Yen on Concern O'Neill May Seek Weaker Currency By Miki Anzai and Mari Murayama Tokyo, Jan. 16 (Bloomberg) -- The dollar fell against the yen on concern U.S. Treasury Secretary designate Paul O'Neill may use his nomination hearing tomorrow to signal he wants a weaker currency to help boost exports as the American economy slows. The dollar also fell as some investors said Japan's plan to boost its stock market may increase demand for yen. The Japanese government is scheduled to form a panel tomorrow to discuss ways to stem the decline in shares, which left the Nikkei 225 stock average down 29 percent over the past year. The dollar dropped for the first time in four days to 118.12 yen from 118.72 yen yesterday. It was little changed against the euro, with the Europe's 12-nation currency buying 94.06 U.S. cents. ``Speculation the U.S. may alter its strong-dollar policy helped push down the dollar,'' said Kenichi Hayashi, a foreign exchange manager at Industrial Bank of Japan Ltd. The U.S. currency rallied to its highest level against the yen in almost 1 1/2 years yesterday, a move that may damp demand for U.S. exports, making the goods more expensive to overseas buyers. O'Neill is scheduled to appear at a confirmation hearing tomorrow, when he may reveal how President-elect George W. Bush will manage foreign exchange policy. O'Neill, who was president of International Paper Co. before joining Alcoa Inc. in 1987, may seek a weaker dollar to boost exports as a way to spur economic growth. The U.S. economy expanded at a 2.2 percent annual rate during the third quarter, its weakest pace in four years. The dollar's decline was limited because many traders said they doubted the U.S. would suddenly change its foreign exchange policy. Lawrence Lindsey, a top economic aid to Bush, said early this month that the new administration ``is committed to a strong dollar.'' Hmmm, I remember James Baker saying something remarkably similar to this...in October, 1987!<NG>