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To: Techie who wrote (72028)	10/14/1998 4:11:00 PM
From: D.J.Smyth	Respond to of 176387

ot 5:05 DJS Dollar Climbs Against Deutsche Mark On German Rate-Cut Speculatio 15:05 DJS Dollar Climbs Against Deutsche Mark On German Rate-Cut Speculation NEW YORK -(Dow Jones)- The dollar finished mixed Wednesday, edging lower against the yen, but climbing against the mark as at least some German central bank officials appeared to leave open the possibility of a reduction in interest rates. Late Wednesday, the dollar was quoted at 118.68 yen, down from 118.95 yen late Tuesday in New York. The dollar traded higher against the yen for much of the session, but finished lower as investors squared positions at the end of the day. The dollar also was quoted at 1.6415 marks, up from 1.6337 marks late Tuesday in New York. The British pound was quoted in New York at $1.7043, down from $1.7060 late Tuesday. The pound was pressured by data showing the United Kingdom's average earnings growth slowed to 4.6% in July, compared with forecasts of 4.7% growth. The slowdown was seen as raising prospects for another U.K. interest-rate cut next month. Robert Fullem, a corporate trader at NatWest Global Financial Markets in New York, said it appeared that the currency market was easing into a period of low volatility, but he cautioned that any new surprises on the global economic front could change that quickly. Analysts' reaction to the bank-reform bill passed Tuesday by Japan's lower house of parliament has been cautious. The measure, which sets guidelines for pumping public funds into Japan's ailing banking system, is seen as a step in the right direction, but hardly sufficient. Tokyo's key stock index dropped more than 1% Wednesday amid doubts about the bank-rescue plan. Optimism about the bank bill, along with concern about the effect of global economic turmoil on the U.S. economy, helped spark last week's tumble of the dollar to a 20-month low against the yen. But any dollar rallies against the yen are likely to be contained by the ongoing concerns that hedge funds will again start liquidating dollar positions, particularly above 120.00 yen, traders noted. One trader with a Canadian bank said the U.S. currency is gradually returning to a more range-bound pattern after the recent massive collapse in dollar-versus-yen. But he warned that the "dramatic move last week has left an overhang that is going to make people reluctant to hold dollars as we move higher." Sentiment for the dollar against the mark improved in the wake of comments from Deutsche Bundesbank council member Klaus-Dieter Kuehbacher Wednesday that he "wasn't ruling anything out" in the way of German interest rates, echoing similar comments by his colleague Reimut Jochimsen late Tuesday that he "won't exclude lower interest rates in the next weeks and months." In Moscow, the ruble ended firmer against the dollar, pushed up by commercial bank and central bank purchases before the Oct. 15 expiration of forward currency contracts. The dollar closed at around 13.07 to 13.1 rubles, compared with 15.000 to 15.049 rubles Tuesday. Before the August collapse of Russia's ruble and government default on $40 billion in debt, Russian commercial banks concluded a large number of forward contracts with Western commercial banks, offering foreigners a hedge against a fall in the ruble. Most of the contracts mature by Thursday, and have already put a lot of pressure on undercapitalized Russian banks as the ruble has lost 60% of its value. Among other currencies Wednesday, the Hong Kong dollar was bid at 7.7466 per U.S. dollar, unchanged. The dollar also was quoted at: - 1.3361 Swiss francs, up from 1.3230 Swiss francs late Tuesday in New York. - 5.5029 French francs, up from 5.4776 francs. - 1624.00 Italian lire, up from 1620.65 lire. - 1.5422 Canadian dollars, down from C$1.5510. In Mexico City, the peso ended firmer against the dollar Wednesday. The peso was quoted at 10.1550 per dollar, compared with 10.1890 pesos per dollar at Tuesday's close. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved. 10/14 3:05p CDT forget about ML Techie. you and he are both wrong. no one paid attention to ML's CTO babblings before regarding his well know theories regarding the net, why should they pay attention now? MANY things would need to happen before even a PART of his theory could be provable, and those things, wider bandwidth, complete server integration, WON'T happen for, at least another four years. in the meantime faster systems will continue to come on line. increased megahertz is a function for speech, video and manual input. speech and video require increased megahertz going forward (as do many home uses, such as tf hookup, games, etc.).

To: Techie who wrote (72028)	10/14/1998 4:11:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

Well ML has to make up for that trading loss some how don't they? I did say some 'pundit'mouthed off something stupid as usual didn't I? Well ML has to make up for the trading loss they incurred somehow don't they? I am sure tomorrow we will hear from Kurlack saying this is the end of the line for Intel.<g> I wonder if they are so smart how come they lost their a#@ and laying off people left and right????

To: Techie who wrote (72028)	10/14/1998 4:18:00 PM
From: Jerry Miller	Read Replies (2) \| Respond to of 176387

"The pullback is because of what the CTO of ML said during a conf. call. This is exactly what I've been saying for months, but nobody listens." perhaps. but i'll stand by my little theory.

To: Techie who wrote (72028)	10/14/1998 4:30:00 PM
From: D.J.Smyth	Read Replies (1) \| Respond to of 176387

techie, no one paid attention to ML's CTO babblings before regarding his well know theories regarding the net, why should they pay attention now? MANY things would need to happen before even a PART of his theory could be provable, and those things, wider bandwidth, complete server integration, WON'T happen for, at least another four years. in the meantime faster systems will continue to come on line. increased megahertz is a function for speech, video and manual input. the implication that 233 megaherz is all you need is a function of manual input, not much else. speech and video will require ever increasing megahertz going forward (as do many home uses, such as tf hookup, games, etc.).