19 September 2001, 11:17  Dollar under pressure vs yen in Europe despite BOJ

0645 GMT - Dollar giving up some of its one-yen gains against yen after Bank of Japan intervenes in Tokyo time to buy dollars for second day in a week.
- Dollar under pressure at 117.80 as fears of armed conflict intensifies after Afghanistan leader says call to surrender bin Laden is pretext to destroy Taliban. Taliban also says proof of Osama guilt must be given to Afghan supreme court. br> - Before intervention dollar fell to 117.13 from New York close of 117.24 as investors keen to sell dollars given gloomy outlook on U.S. economy following attacks on United States last week. br> - Finance Minister Masajuro Shiokawa said driving down value of yen was most effective way to offset deflationary pressure in Japan. br> - Some expect dollar to revisit 117.10 level in near future. Possible break of that level would open the way to seven-month low of 116.65 set on Monday then 115. br> - Dollar down a third of a percent at $0.9244 from New York close but uptrend seen intact. Euro up a trickle against yen at 108.94 from 108.78.

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