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To: Zardoz who wrote (18444)9/11/1998 2:22:00 AM
From: Alex  Respond to of 116756
 
Dollar tumbles over 5 yen in Tokyo, low since April

TOKYO, Sept 11 (Reuters) - The dollar fell more than five yen to 128 yen in mid-afternoon Tokyo on Friday, its lowest level since April, dealers said.

The greenback's drop accelerated on a wave of selling to cut losses.A sharp drop in Tokyo stocks also invited dollar sales by Japanese players for repatriation of funds.

Traders said there was no signs so far of a Bank of Japan (BOJ) yen-supporting intervention.

Concerns over U.S. President Bill Clinton's sex-and perjury scandal and fears that New York stocks could fall sharply further later on Friday also weighed on the dollar, dealers said.

''Fears over the health of U.S. economic fundamentals triggered active speculative selling. Substantial option-linked offers were triggered at 131 and 130 yen,'' a senior dealer at a foreign bank in Tokyo said.

Dealers said frantic sales were seen by both foreign and domestic parties and sellers fed off of eachother although no clear reason was cited for the sudden rush of activity.



To: Zardoz who wrote (18444)9/11/1998 2:34:00 AM
From: E. Charters  Respond to of 116756
 
Put options on a gold Producer that is overvalued? Hutch. What are you smoking?

Please straddle this volatility and stop talking nonsense or I will be forced to strangle your pet cat.

sheeeesh!

Dracula.



To: Zardoz who wrote (18444)9/11/1998 10:02:00 AM
From: Activatecard  Read Replies (1) | Respond to of 116756
 
Hutch,

Japan is tanking and the dollar is weakening against the Yen. This is
puzzling. Any ideas?

Steve