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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61839)	3/10/2002 12:50:35 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Traders Bet Dollar's Slump vs Yen Is Over: Currency Outlook By Geraldine Ryerson-Cruz quote.bloomberg.com New York, March 9 (Bloomberg) -- Currency traders are betting the dollar's slump against the yen will end in coming weeks, after the biggest weekly drop in two years. ``The air's gone out of the balloon,'' said Andrew Chaveriat, a currency strategist at BNP Paribas. During the past eight years ``when we've had sell-offs of this magnitude, in the next week you don't make a new low, you see a gradual bounce up.'' Implied volatility, a gauge of how much prices are expected to fluctuate in a given period, fell Friday as traders bet the U.S. currency won't repeat this week's 3.6 percent decline. Volatility had its the biggest jump since Sept. 11 on Thursday, when the dollar fell by four yen to a three-month low of 126.40 yen. It rose today to 128.65 yen. A surging Japanese stock market fueled the dollar's tumble against the yen this week, as traders bet new restrictions on stock trades that profit when shares decline would prop up shares. The benchmark Nikkei 225 index jumped 9.9 percent this week, rebounding from an 18-year low a month ago. Volatility on the dollar-yen exchange rate for a one-month period rose to 11.7 percent Thursday, its highest level since Jan. 2, and touched as high as 12 percent, traders said. The largest percentage-point climb in volatility in six months was pared to 10.5 percent on Friday, when the dollar recovered some of its losses, according to Bloomberg analytics.