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To: dvdw© who wrote (256459)	8/18/2003 10:23:48 PM
From: Haim R. Branisteanu	Respond to of 436258

Currency manipulation by countries to serve their interests is not new and quite active. Japan for several years is managing their USD/Yen exchange by various means if buying USD assets or buying EUR's and selling USD and other ways of intervention. After Iraq war there was no coincidence that the EUR rose over 10% and stifled many European exports. IMHO watching the comments of Snow and other US officials it was not exactly comments to calm the sudden EUR rise. In several instances Snow comments depreciated the USD by 1.5% or more the same day But all this action were more or less relatively friendly. There is no nation that can stand up militarily to the US, but dumping US assets instead of going to war could we quite devastating to US interests.