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Strategies & Market Trends : World Outlook
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To: Don Green who wrote ()4/10/1998 2:22:00 AM
From: Don Green  Read Replies (1) of 48991
 
The Bank of Japan (BOJ) was believed to be selling dollars for yen continuously in Friday afternoon trade in Tokyo, bankers said. The dollar stood around 129.15/25 yen as of 0530 GMT, down more than two yen from its earlier high of 131.55 yen. Dealers said the BOJ's intervention in Tokyo was first seen in late-morning trade. The central bank temporarily stopped selling dollars around midday, but it resumed intervention by early afternoon trade. The dollar later extended losses, dipping below 129 yen. ''Because the BOJ's intervention is so persistent and aggressive, some players gave up and moved to liquidate dollar
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