Intervention Update



Forexnews :

7/15/2002 8:12:00 PM Japan's Eco Min Takenaka says they must take action on FX if rates move away from fundamentals and that he wants to see BoJ take more easing steps. He also states that he wants BoJ to consider fx moves when deciding monetary policy and adds that Japanese stocks are undervalued.



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Also , tomorrow chairman Greenspan reports to Congress and June Industrial Production figures come out with the expectation of a %0.4 rise along with June Capacity Utilization baring a consensus forecast for a %0.3 improvement. Each of these will factor significantly on the dollar considering its recently lows . Their imminence may inhibit further dramatic movements this evening through the first half of the NY session.