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To: Tom M who wrote (73359)	7/12/2001 9:10:27 PM
From: Ahda	Respond to of 116758

We better hope to heavens they can engineer this economy.

To: Tom M who wrote (73359)	7/12/2001 9:49:45 PM
From: Ahda	Respond to of 116758

Lemmings in a world where illusion is king biz.scmp.com Battered Asian currencies slipped another peg yesterday even as reports circulated that the US dollar's safe haven status was crumbling. The euro and the yen strengthened in Asian trade amid concerns of a financial crisis in Argentina, leading to speculation that the dollar's long run was finally losing momentum. However, by London's opening the greenback was already recovering yesterday. "The dollar didn't behave as anticipated in an environment of emerging market concerns," said ING Barings senior economist Daragh Maher. "But it's been pretty short-lived. It's hard to make a compelling argument against the dollar . . . just because things look so terrible elsewhere." Other Asian currencies mostly ignored the yen's jump below the 125 level, as countries such as Singapore warned of further economic malaise in the second half.