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

To: JF Quinnelly who wrote (5923)	8/27/1998 4:28:00 AM
From: Dayuhan	Respond to of 9980

The move into the yen seems to be in anticipation of another round of intervention, either unilaterally or in cooperation with the US. A very short term move, and I'd say a dangerous one, as the timing, duration, and extent of the intervention are very difficult to predict. I don't believe that the 147 mark can be held, and I think that both the yen and the Nikkei are due for another hammering. Painful, but probably necessary. The government will not move until it is absolutely forced to; it may have to fall completely to clear the way for real reform. The question now: how much will Japan have to hurt before they realize that more of the same just isn't going to do it? Steve