24 September 2001, 09:19 Forex - Dollar firmer against yen in Singapore trading; BoJ may intervene
SINGAPORE (AFX-ASIA) - The dollar was firmer against the yen in
quiet trading here, with gains in the yen subdued amid fears the Bank
of Japan may still intervene despite today's public holiday in Japan,
dealers said.
"Trading is quiet with Tokyo shut for a public holiday. There is a
continuing strengthening bias for the yen but gains are subdued as the
market is still concerned BoJ might intervene," a dealer with a
European bank said.
Dealers said BoJ has in the past surprised the market by
intervening during Japanese public holidays.
The yen should trade rangebound at 116-117/usd as there is no real
fundamental reason to boost the yen beyond these levels, they said.
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