Nervous Traders Send Dollar Down

The dollar fell against the Japanese yen and German mark in nervous trading Friday as dealers worried that U.S. and Japanese officials might jointly attempt to reduce the dollar’s strength vs. the yen.

Concern was aroused by a meeting in New York between U.S. bankers and Eisuke Sakakibara, Japan’s vice finance minister for international affairs and the most influential official on currency issues.

Sakakibara said he told the bankers that Japan is considering measures to use public funds to bolster its ailing financial sector, Dow Jones Newswires reported.

In late New York trading, the dollar was quoted at 132.03 yen, down from 132.63 late Thursday. The U.S. currency also was settled at 1.8204 marks, down from 1.8219.