51.   Several companies said the sudden devaluation had sorely tested their confidence in the Mexican government, which had long pledged to defend the currency.

52.   Shortly after Russia devalued the ruble, for example, Canada and Mexico raised rates to defend their currencies.

53.   So far, Brazil has survived harrowing swings in the stock market and defended its currency against speculators who are trying to force a devaluation.

54.   Some traders said they think the bank will raise rates as soon as this week to defend the currency from falling further.

55.   Sterling also took its toll on stocks and bonds as concern rose U.K. rates may have to be raised to defend the currency.

56.   Speaking to a business luncheon in Toronto, Thiessen yesterday said that the central bank will defend the currency if it comes under further attack from speculators.

57.   Stocks and currencies in Thailand, the Philippines, Malaysia and Indonesia tumbled in the past two months as governments stopped defending their currencies.

58.   That came amid signs of slowing U.S. economic growth and speculation the Bank of Japan is poised to defend its currency by selling dollars for yen.

59.   That might force the Bank of Japan to defend its currency by raising rates here, too, traders said.

60.   That is particularly true when countries are seeking to defend overvalued currencies.