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To: marcos who wrote (3940)	12/7/1997 9:03:00 PM
From: goldsnow	Respond to of 116815

Hi Lorne & Marcos, agreed $ and bonds will get pounded Sunday December 7, 8:39 pm Eastern Time Excessive yen weakness unfavourable--MOF Mitsuzuka TOKYO, Dec 8 (Reuters) - Japanese Finance Minister Hiroshi Mitsuzuka said on Monday that an excessive depreciation of the yen against the dollar was unfavourable, and that Japan will take appropriate steps to cope with excessive currency moves in a timely manner. ''As I have repeatedly said, an excessive fall in the yen is not favourable, and therefore we are ready to take timely and appropriate steps to cope with a rapid drop in the yen,'' he said. Mitsuzuka said the ministry will continue to keep a close watch on currency moves. Mitsuzuka reiterated remarks, made at news conferences and parliament sessions last week, that Japan is determined to take every measure necessary to ensure stability in Japan's financial system. ''Currency stability is likely to be realised when the financial system stabilises,'' he said. Asked if he had read a media report that the ruling Liberal Democratic Party (LDP) will consider a plan to sell some of Japan's massive holdings in U.S. Treasury bonds to help raise cash for the troubled banking sector, Mitsuzuka said he would prefer not to comment on the report as he needs to be briefed on details of the reported plan. Also even more explicit: biz.yahoo.com