www.reuters.com/article/ousiv/idUSTRE57T28X20090830 -
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Last Visited: 8/30/2009
That is what the trend is, and equities are holding firm," said Toru Tanaka, senior manager of Treasury & Foreign exchange at Mitsubishi Corporation.
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"The reason the dollar is now near 93.50 yen is not because the yen has risen on any hopes for the Democratic Party's policies," Mitsubishi Corporation's Tanaka said, adding that the dollar could rise as high as 95 yen to 96 yen this week.
Factors such as currency hedging by Japanese institutional investors and exporters ahead of their half-year book closings at the end of September have likely given the yen a lift recently, but the bulk of such flows may already be taken care of, he said.
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