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Analysts Comments

Kazuyuki Kato, dealer at Mizuho Trust & Bank

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16 May 2008 @ 06:26 am EST
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Thomson Financial News - "As the recent weakness of emerging markets' currencies suggest, U.S. fund managers are now trying to recoup their funds invested in these markets ahead of the account book closing. This change in asset allocations is likely to continue to support the gains of the dollar in the near term, possibly sending the greenback to above the 105 yen level, or closer to the heavy resistance range, which is at the upper end of the 105 yen. If the dollar is able to break through the heavy resistance lines, it can test the 106.60 yen level then."

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