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from THE HINDU group of publications
Sunday, July 16, 2000
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Money

Forex
All eyes on crucial BoJ meeting
THE dominant theme in the forex markets this week was the chances of a rate hike in Japan. With the Bank of Japan (BoJ) Governor, Mr. Masaru Hayami, seemingly keen on a rate hike, the yen strengthened to the week's high of 106.54 to the US dollar on Mond ay. Later, when news of the bankruptcy of the Japanese retail giant, Sogo Co., came in, doubts surfaced about the BoJ tightening credit at this juncture and the yen gave back its gains and eased to 108.47 on Wednesday.

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