DOLLAR OPENS AT TOKYO RECORD LOW OF 143.75 YEN
The dollar opened at a record Tokyo low
of 143.75 yen despite aggressive Bank of Japan intervention,
dealers said.
    The previous record low was 144.70 yen set on March 30. The
opening compares with 143.90/144.00 yen at the close in New
York.
    The central bank bought dollars through Tokyo brokers just
before and after the market opening, the dealers said.
    The intervention took place when the dollar fell to 143.20
yen, one dealer said.
    The dollar opened at 1.8155/60 marks against 1.8187/97 in
New York.
    The dollar fell as low as 142.90 yen despite central bank
intervention at 143.00 yen, dealers said.
    Selling pressure was strong from securities houses and
institutional investors in hectic and nervous trading on
underlying bearish sentiment for the dollar, they said.
    Most dealers were surpised by the dollar's sharp fall
against the yen in New York, although many had expected such a
drop to happen eventually.
    Institutional investors are expected to sell the dollar
aggressively if it rises to around 143.50 yen, dealers said.
    The U.S. Currency steadied well above 143.00 yen after Bank
of Japan intervention and scattered short-covering, they said.
    The dollar opened at 1.5120/30 Swiss francs against
1.5085/00 at the New York close.
    Sterling started at 1.6190/00 dlrs against 1.6195/05.
 REUTER
