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15500140
Colonial Offics Reference to 15 500 140
The cominline ts of w
is of the Zome 116 5679 176 10
16.1.40.
Copies also sent to 7.0
CYPHER TELEGRAM
is.
is. England.
TO
0. A. G.
HONG KONG
Sent 30th December, 1940 12.30 hrɛ.
Enter
No. 817
Your telegram 143,"
-FE677-1
A
Following for Hall Patch
from Treasury,
Our latest figures show that though trade of sterling area with Japan is tending more towards equilibrium balance 18 on the whole still running adverse to sterling area. Great improvement recently shown in U.K. adverse balance with Japan but India and South Africa still heavily adverse. We suggest that Japan's purchases of sterling in Shanghai may be due to the covering of extensive forward sales of sterling which she made in late summer and early autumn when her policy was to go short of sterling.
Tokyo.
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