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The article discusses the impact of economic stimulus policies in the European Union, China, and Japan on driving down the value of the Yen, Euro, and Renminbi currencies against the value of the U.S. dollar. Topics addressed include a lack of criticisms of the policies by American officials due to the relative strength of the American economy, concerns about the long-term effect of a strong U.S. dollar on the U.S. economy, and the stimulus policies of the European Central Bank (E.C.B.)

The article focuses on a currency agreement between China and Japan that will give the Chinese yuan a greater role in international trade. It states that Japanese Prime Minister Yoshihiko Noda announced a series of deals that promote direct yuan-yen trade rather than converting currencies initially to U.S. dollars. It mentions that the U.S. government has encouraged China to seek an enhanced role for the yuan in hopes that China would in turn revamp its financial sector policies.

Assesses the economic activity in the stock market on September 22, 2003. Amount of drop in the Dow Jones Industrial Average, suggesting a plunging American dollar is worrying investors; View of analysts that the reaction of investors was an over-reaction; Financial performance of the 10-year Treasury note; Comments from John O'Donoghue, senior stock trader at brokerage firm Credit Suisse First Boston; Financial performances of the American dollar, Japanese Yen and euro, which were linked to the decision of several finance ministers to put pressure on the yen and yuan.