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To: Zardoz who wrote (13400)	6/18/1998 5:43:00 PM
From: Alex	Read Replies (1) \| Respond to of 116759

Thanks very much for the post Hutch. My thinking was along these lines - as someone (Henry maybe?) pointed out today, Rubin has blinked. While being wishy-washy for weeks, they have clearly been forced to act against what IMO is quickly becoming a global currency crisis. This flies in the face of what Greenspan said recently and should cause concern for those who saw the $ as the global safe haven. I felt that the growing imbalances were unsustainable. Wether or not the decline of the yen has peaked or not, do you think that this clear U.S. signal on the $ will cause investors to consider another safe haven? If not, where does the fed go from here? Thanks.