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The yen is up more than 7 percent just in the last month.
Since its low for the year on May 20, the yen is up 11.6 percent.
It is down 18 percent against the yen over the past 12 months.
Starting early this year, the yen lost even more ground.
For the yen itself, I could see it easily go up another 15 percent or so.
Against the yen, it was at 104.26, down from 104.68 in the morning and 104.65 the night before.
The rate for the yen was about 154 in February.
The yen began the month at 125 to the dollar.
But by 1995, the yen had started to weaken again.
The dollar is down 19 percent against the yen since the end of 2001.
"This is a window of opportunity with the yen relationship."
Against the yen, the rebound has not been as strong.
However, the relationship of the won to the yen is equally important.
Much will depend on where the yen goes in the coming days.
Against the yen, the dollar is now down 5.8 percent since May 2.
We want to generate a move away from the yen, just like they did to us.
As it has in the last week or two, the yen remained strong against the mark.
Against the yen, the dollar is also close to its low of the last year, 121.05.
"In 1986, you had months when the yen was up 30 percent from the previous year," he said.
The dollar fell to another record low against the yen.
But others say the same factors that have brought the yen to its current position will drive it even higher.
But against the yen, the dollar is still holding its own.
So the yen fell a little further against the dollar.
But the dollar fell against the yen across the board.
Against the yen the dollar was at 127.98, down from 129.38.