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To: jjs_ynot who wrote (17155)	6/13/1999 2:44:00 PM
From: Don Green	Respond to of 99985

Intervention Warning From Japan's Miyazawa Not Seen Reversing Yen's Rise By Miki Anzai Miyazawa's Intervention Warning Not Seen Reversing Yen's Rise Frankfurt, June 13 (Bloomberg) -- Japanese Finance Minister Kiichi Miyazawa may be fighting a losing battle to keep the yen from rising against the dollar, currency traders and analysts said. Miyazawa suggested on Saturday that Japan may intervene again in foreign exchange markets to slow the yen's rise. ''I favor a market that moves in an orderly manner,'' he told reporters after meeting in Frankfurt with his fellow finance ministers of the Group of Seven industrialized nations. ''Any factors that could disrupt the market should be rectified.'' ''The Japanese government doesn't want a stronger yen right now'' because of the negative impact on profits of the nation's exporters, said Tetsu Aikawa, a foreign exchange manager at Sanwa Bank Ltd. in Tokyo. Still, further moves like last Thursday's purchase of an estimated $1 billion by the Bank of Japan in currency markets aren't likely to keep the yen from rising, he said. ''Given Japan's good (gross domestic product) figures for the first quarter and a possible slide of U.S. stocks amid expectations for a U.S. rate hike, the yen has no choice but to rise,'' Aikawa said. quote.bloomberg.com