11.   In buying marks for yen, traders often sell yen for dollars first, then convert dollars into marks.

12.   In selling marks for yen, traders often convert marks into dollars, then use the dollars to buy marks.

13.   In selling the mark for yen, traders often buy the mark for dollars first, then convert dollars into yen.

14.   In this example, if a company committed to buy marks at a certain rate and the German currency later fell, the contract would lose value.

15.   Investors had bought the mark -- the traditional safe haven currency in Europe -- against the risk of delays in the monetary union plan.

16.   Japanese investors are seeking higher returns elsewhere and buying the mark, which keeps its relative strength against the dollar, traders said.

17.   Japanese investors were seen buying the mark as a hedge against the declining yen.

18.   Many mark-yen trades go through the dollar, with traders selling yen for dollars, then using those dollars to buy marks.

19.   Most investors selling U.S. and Canadian dollars bought German marks, generally viewed as a safe-haven European currency, he said.

20.   Presa said he bought marks also.