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To: WONG who wrote (1906)	6/17/1998 9:05:00 AM
From: MikeM54321	Read Replies (2) \| Respond to of 2951

I suppose most have the news, but the US DID intervene and prop up the yen. Just after Rubin said he feels it doesn't work. It will be interesting to see how long it works now. This sure appeared to work temporarily. That can't be argued.They yen has picked up a lot of strength in the last two days, but now it seems so artifical. I'm pretty certain now, Japan will also jump in. But will this really work in the long run? Do speculators just up and run away? Does anyone have any comments on this action by the Fed? Thanks, MikeM(From Florida)

To: WONG who wrote (1906)	6/17/1998 10:04:00 AM
From: Tom	Read Replies (2) \| Respond to of 2951

Some reaction from Japan... "There are a lot of people here who are annoyed about this visit, coming right at the end of parliament and before the election campaign," one official told Reuters. "this is a very nervous day for everyone." "Why does he have to come now?" groaned another official. Summers' sudden visit "means he has a message he would like to deliver to our side."