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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (520164)1/7/2004 10:03:39 AM
From: Hope Praytochange  Read Replies (1) of 769667
 
1/7/2004, 9:45:44 AM
Jan. 7 (Bloomberg) -- The Bank of Japan sold yen and bought dollars, according to a trader at a bank that deals with the central bank.
The central bank sold yen at about 2:15 p.m. in London after it rose to 105.90, said the trader, who spoke on condition they not be further identified. The sales weakened the yen to about 106.20 from 106.18 late yesterday in New York.

``We will act as needed to counter speculative movement,'' in the yen, Zembei Mizoguchi, Japan's vice finance minister for international affairs, yesterday told reporters. ``There is a need for us to respond to this with determination.''
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