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

To: StanX Long who wrote (62036)	3/14/2002 12:19:45 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Yen Rises; Speculation Japanese Exporters Bring Back Earnings By Kanako Chiba and Mari Murayama 03/14 00:05 quote.bloomberg.com Tokyo, March 14 (Bloomberg) -- The yen had its biggest gain in a week on speculation Japanese exporters are taking advantage of the currency's 2 percent decline in four days to bring overseas earnings home before the accounting year ends March 31. Some banks, insurers and other companies also may be moving money from abroad before compiling performance reports in April, analysts said. ``We're seeing some repatriation flows as Japan's fiscal year end approaches,'' and that's pushing up the yen, said Kimihiko Tomita, head of foreign exchange sales at J.P. Morgan Chase & Co. in Tokyo. Japan's currency strengthened to 128.88 against the dollar, compared with 129.47 in New York yesterday. Against the euro, it rose to 113.12 from 113.39 in New York. It was the yen's first gain in three days.