1.   Although the dollar has traded in a narrow range against the mark over the past few days, many traders see it rising in the weeks ahead.

2.   As a result, say analysts, currency traders saw the rate cuts as more cosmetic than real and began another run on the dollar.

3.   Borrowers may not see rates fall much more until bond traders see more evidence that the economy is sputtering.

4.   Borrowers may not see rates fall much further until bond traders see more evidence that the economy is sputtering.

5.   But some traders saw the possibility of the opposite effect if investors sell yen-denominated securities.

6.   But some technology issues, which turned around Thursday when traders saw an opportunity for bargain-hunting, continued to rise.

7.   Currency traders saw that as a reassuring prospect.

8.   Even so, further gains may be difficult, he added, because the mark could strengthen if traders see signs the monetary union could be postponed.

9.   Even so, some traders saw the stronger-than-anticipated demand as a bad omen for the bond market.

10.   Given this pressure, these traders rarely see weakness in the economy turning into a recession.