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To: Enigma who wrote (40081)	9/6/1999 3:02:00 PM
From: Alex	Respond to of 116790

Japanese traders propose intervention over US dollar Japanese trading companies are proposing a major intervention to prop up the US dollar. The greenback hit an eight-month low against Japan's currency, the yen, last week and is struggling to recover. The US dollar has lost more than 10 per cent of its value against the yen over the past four months and it is continuing to trade around the 109 mark. This has made Japanese exports more expensive, threatening to undermine the country's fledgling recovery. Japanese leaders have repeatedly threatened to intervene in the yen appreciates too rapidly but so far there has been no sign of action. This prompted Japan's Foreign Trade Council today to call for a joint US-Japan dollar buying intervention if the dollar continues to weaken. <Picture: back to ABC Online> ¸ 1999 Australian Broadcasting Corporation abc.net.au