41.   There was speculation Japanese investors bought yen with the foreign currency proceeds from selling overseas assets.

42.   They are now expected to unwind such trades and buy back yen.

43.   There was speculation today that the central bank bought yen in the currency market in Singapore.

44.   This means Japanese are buying back yen and Germans are purchasing marks.

45.   This means that they have been selling dollars and buying back yen after making big profits on the decline of the yen all year.

46.   To buy Japanese stocks, foreign investors have to sell dollars to buy yen.

47.   Traders also said rising yields on Japanese bonds also prompted traders and investors to buy yen.

48.   To buy the stock, foreigners have to sell their local currency and buy yen, pushing up its value.

49.   When investors buy the yen for other currencies, they often use the dollar as an intermediary, pushing the dollar down against the yen.