My predictions have come true. The yen has stumbled into 2000, giving up much of its recent gains as anticipated.

The high-flying yen has moved steadily lower against the dollar and the euro under severe selling pressure since the start of the year, offering a stark contrast to its strong showing late last year.

Specifically, the dollar climbed past the 106 yen level briefly Wednesday for the first time in more than seven weeks, before settling at 105.75-78 yen in late trading, up from 102.05-10 yen at the end of 1999.