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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (4733)	6/22/1998 2:22:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 9980

I think that the dollar was already Over perched" at 146 yen/dollar, that is why it was so easy to beat it back with only $2 billion. I think that the treasuries already bought back their dollars and will wait to see 146 breached again, but let Japan seat a little before they intervene again. Thus, over the next six month I think the yen has a chance of going all the way to 156-160 yen/dollar or so. It will also be a perfect double from the dollars bottom at 78 yen/dollar. I also think that within six to nine month we will start and see slow but perceptible impact of the stimulus package agreed to in April. That will also stem the decline in the yen. Zeev Zeev