Intervention Boosts Dollar Vs. Yen
The Bank of England reportedly joined the Japanese in a successful central bank attempt to push the dollar above 105 Japanese yen Thursday, but the greenback finished lower against other major currencies.
Market participants estimate that the Japanese central bank has used $5 billion to $10 billion to buy dollars and sell yen this week.
By 4 p.m. in New York, the dollar was trading at 1.4497 marks, down from 1.4499 on Wednesday. It finished at 105.05 yen, compared with 104.98 on Wednesday.
Exchange Currency in Dollars Dollar in foreign currency
Canada .7275 1.3745
France .2007 4.9838
Germany .6898 1.4497
Great Britain 1.5446 .6474
Italy .000637 1569.50
Japan .009519 105.05
Mexico .132608 7.5410