At the end of this week, U.S. president George Bush will meet with Japanese prime minister Junichiro Koizumi in Tokyo prior to the 11th APEC economic leaders meeting in Bangkok, Thailand (October 20th and 21st). But just prior to his visit, the U.S. Treasury is scheduled to release its semi-annual report on international economic and exchange rate policies. The report is expected to touch on Asian currency manipulation without necessarily mentioning Japan or China. The foreign exchange markets are rife with rumors about the outcome of these meetings, including whether the Bank of Japan, as it did prior to last month's Group of Seven meeting, will allow the yen to appreciate ahead of Bush's visit.

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