FIRST CHICAGO
THE FIRST NATIONAL BANK OF CHICAGO
One First National Plaza, Chicago, Illinois
(October 7, 1997) CURRENCIES: Uncertainty regarding the fate of the Euro and the return of slower growth rates in Germany are expected to put upward pressure on the dollar vis-a-vis the Deutschemark through the balance of the year. The Deutschemark is expected to end the year at 1.81 Deutschemark/dollar.
Political tensions regarding Japan's trade surplus suggest prospects against the yen are more mixed. The yen is expected to end the year at 121 yen/$, very close to its recent trading range.
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