Last week the "word on the street" was that the bank of japan had blown $150 billion on recent dollar purchases used to keep the dollar strong versus the yen for trade purposes - and the BOJ was ending such support so as to support Bush's desire to have a weak dollar and a trade plus/jobs plus before the election.
http://ap.tbo.com/ap/breaking/MGACLKOQESD.htmlDollar, Gold Down in Europe
The Associated Press
Published: Mar 29, 2004
LONDON (AP) - <snip>.. euro was quoted at $1.2149, up from $1.2113 Friday... 105.51 Japanese yen, down from 105.95; 1.2844 Swiss francs, up from 1.2823, and 1.3113 Canadian dollars, down from 1.3185... in New York, the dollar was quoted at 105.33 yen and 1.2842 Swiss francs. <snip>
Gold traded in London at $419.10 bid per troy ounce, down from $420.90 Friday.<snip>