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To: pater tenebrarum who wrote (58471)	8/24/1999 9:46:00 PM
From: Haim R. Branisteanu	Read Replies (2) of 86076

Dollar Pares Gains Against Yen Amid Speculation Japan Sold Yen for Dollars By Keiko Kambara Tue, 24 Aug 1999, 9:34pm EDT Dollar Pares Gains Against Yen Amid Speculation Japan Sold Yen Tokyo, Aug. 25 (Bloomberg) -- The dollar pared gains against the yen, after rebounding from a seven-month low amid speculation Japan sold its own currency, traders said. Traders said they couldn't tell whether the Bank of Japan actually stepped in the currency market to buy dollars for yen. Among dollar buyers were a U.S. brokerage and a Japanese trust bank, they said. The dollar rose as high as 112.40 yen, up from 110.40 yen it earlier touched as its lowest since Jan. 12. It recently traded at 110.82 yen, little changed from late New York trading yesterday. Before the dollar rebounded from the seven-month low, Haruhiko Kuroda, Japan's point man on foreign exchange, said the government is ''prepared to take decisive actions, if necessary'' because ''a premature rise in the yen is not desirable.''

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