1.   Also, as the yen rises import prices fall, pressuring domestic companies to lower prices, and profit margins, at home as well.

2.   And as the yen rose and made it cheaper for the Japanese to manufacture abroad, the banks followed their biggest customers to foreign shores.

3.   A stronger dollar will also hurt companies that moved production abroad when the yen was rising, such as audio equipment maker Aiwa Co.

4.   But because the yen has substantially risen in value against the dollar, the deficit measured in dollars has climbed substantially.

5.   For one thing, the yen rose sharply against the dollar last month, which makes their exports to the United States more expensive.

6.   For much of the last few years, as the yen was rising, import growth exceeded export growth, and trade was a drag on the economic expansion.

7.   In addition, expectations linger that the yen may rise, erasing returns on overseas investment.

8.   In another report, on Sunday, the Nihon Keizai newspaper said stock prices and the yen were rising as foreigners were seeking to buy undervalued Japanese assets.

9.   In recent years the yen often rose during February and March.

10.   It was a sure thing, so long as the yen did not rise or Treasuries crash.