N.Y. DEALERS BELIEVE FED INTERVENED TO BUY DLRS
The Federal Reserve appears to have
intervened in the U.S. foreign exchange market to buy dollars
against yen this morning, currency dealers said.
    They said the intervention occurred near the dollar's early
low of 148.50 yen and the U.S. currency subsequently firmed to
149.05/15. It closed at 150.00/05 on Monday.
    Dealers were uncertain of the amount involved and whether
the Fed's purchases were for its own account or for a customer.
But there was speculation that it may have been done in
conjunction with the Bank of Japan. Tokyo dealers said the
Japanese central bank bought dollars in Tokyo earlier today.

 Reuter
