1. Case Study of a Safe Haven Currency Event Response of Yen to North Korea Nuclear Test; October 9, 2006

2. Bloomberg’s Reporting of News Oct. 9 (Bloomberg) -- The Japanese yen and South Korea's stocks and currency declined after the North Korean government said for the first time it had carried out a nuclear weapons test, defying calls for restraint from world leaders. The yen fell to 119.10 against the dollar at 11:31 a.m., Monday, Tokyo time, from 118.83 before North Korea's government- controlled news agency reported the test. South Korea's won dropped 1.1 percent to 959.40 in Seoul, according to Barclays Capital. ``The fact that North Korea has gone and done a nuclear test adds to a new level of uncertainty in that part of the world,'' said Tony Morriss, a currency strategist at Australia & New Zealand Banking Group Ltd. in Sydney. ``The U.S. dollar will benefit from safe haven flows.''

3. October 9, 2006: Spot Yen (Greenwich Mean Time)

4. Yen Spot Quotes and Changes: Time in Japan and GMT (Greenwich Mean Time) 11:30am Monday Tokyo (Just before announcement); 2:30am Monday, GMT  118.83 11.31am Monday Tokyo (1 minute after announcement); 2:31am Monday, GMT  119.10  Yen Change: -0.23% 11:50am Monday Tokyo (15 minutes after announcement); 2:50am Monday, GMT  119.16  Yen Change: -0.28% 2:30pm Monday Tokyo (3 hours after announcement); 5:30am Monday, GMT  119.27  Yen Change: -0.37%