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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (24541)	2/28/2005 9:56:31 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Japan has not intervened since mid-march last year Japan MoF says did not intervene in forex market during Jan 28-Feb 24 Monday, February 28, 2005 10:31:21 AM forexstreet.com TOKYO (AFX) - The Ministry of Finance (MoF) said it did not intervene in the foreign exchange market over the past month MoF data showed that it stayed out of the market from January 28 to February 24. The monetary authorities have now steered clear of intervention since mid-March last year. During the past month, the dollar-yen exchange rate was in a range of 102.38-106.85 yen in Asian trade, reflecting conflicting views on the US unit, currency analysts said. They said support for the dollar stemming from expectations of US economic growth and speculation on a faster pace of rate hikes by the US Federal Reserve have been offset by lingering concerns over the US twin deficits, namely the trade deficit and the fiscal deficit Japan spent 14.83 trln yen intervening in the currency market during the January to March quarter last year, in a bid to prevent the yen from appreciating and threatening Japan's export-led recovery.