28 April 2005, 14:26  Japan's Ministry of Finance (MOF) said it had not intervened in the currency market in April

Japan's Ministry of Finance (MOF) said on Thursday it had not intervened in the currency market in April, suggesting authorities were not overly concerned with the yen's recent exchange levels against the dollar.The ministry has not intervened in the market since mid-March last year. It sold a record 20 trillion yen ($189 billion) in calendar 2003 and another 15 trillion yen in the first three months of 2004, fearing that excessive yen gains could hurt the Japanese economy. Since March 2004, the dollar has traded in a range between 101.67 yen and 114.90 yen.

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