Extract from REITERS, September.20th.2007

Euro is much rising on dollar because of foreigner’s buying, and euro has become 1.40 $ level that is the highest level ever, and the market action moves to selling dollar. Market expects that ECB will raise rates again, and dollar will be weaker, so buying euro is getting active. And also Mr.Yoshida in Mizuho Research Institute expects that euro will gain until 1.42 $ level.
Euro has recovered around 162 yen (it is around 164yen in TTS), those prices moved solidly. Some expectations are that yen will recover until 165 yen in 1~2 months. Mr. Yoshida says “ G7 Finance Ministers Meeting will take place on next month in Washington and they will talk about credit crunch caused by sub-prime lending problem, but will not take about strong euro.” Euro will continue to be stronger??

EURO/YEN Flash charts (Sep.2006~Sep.2007)