Fund Performance per day (inception date : 4 Dec 06) : 1.38321%

Friday (22 Dec 06)

USD (Neutral) The economy continued to lose momentum in the third quarter, expanding at a weaker-than-expected 2% inflation-adjusted annual rate, and many signs suggest it will stay in a lukewarm zone in the months ahead. Economists expect decent gains in consumer spending to offset further weakness in the housing and vehicle sectors. Slow economic growth is likely to continue in the near term.

Today

JPY (Neutral) - Lower unemployment last month, only a small drop in household spending and inflation in line with expectations mean that the Bank of Japan could still raise interest rates next month, said Norio Miyagawa, an economist at Shinko Research Institute.

Later

AUS, NZ, Europe Markets are closed today

27 Dec 06, 1300h - JPY : Housing Starts

Technicals

Target USD/JPY 119.80, downside risk at 117.50