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To: Alex who wrote (5294)	1/5/1998 11:37:00 PM
From: JD	Respond to of 116856

Japan selling dollars. Not a big surprise but interesting considering your post of planned mof announcement later today (JCT) From Bloomberg 01/05/98 11:18 pm est ********************************************************************** Dollar Falls vs Yen After Bank of Japan Seen Selling Dollars The dollar fell more than 1 yen on speculation the Bank of Japan sold dollars for yen to prevent the Japanese currency from weakening further, traders said. The dollar, which had surged to 134.33 yen, briefly slipped to as low as 132.68 yen. But it quickly bounced back. The dollar was recently traded at 133.45 yen, little changed from 133.42 yen in late New York trading yesterday. A Japanese Finance Ministry official declined to comment on whether the central bank was buying yen. The Finance Ministry decides when to buy or sell a currency, and entrusts the operation to the Bank of Japan. *********************************************************************