91. At a news conference, Finance Minister Kiichi Miyazawa confirmed later that Japanese authorities stepped into foreign exchange markets to weaken the yen. 92. But last weekend BOJ governor Masaru Hayami hinted vaguely in Washington that the bank might switch gears and print money to weaken the yen. 93. But the yen has been weakened by concern over the financial crisis raging throughout the region. 94. Finance Minister Kiichi Miyazawa confirmed that Japanese authorities stepped into foreign exchange markets to weaken the yen. 95. For Finstrom, the Japanese economy is too sluggish to support overseas or domestic investment, which would weaken the yen and strengthen the dollar. 96. Hayami also shot down the possibility of buying foreign bonds, which has also been suggested as an option to weaken the yen and help the economy. 97. In currency dealings, the dollar moved slightly lower against the yen as a senior Japanese currency official denied speculation that Japanese finance authorities were intentionally weakening the yen. 98. In currency trading, a senior government official confirmed in an unusually quick admission that the Bank of Japan stepped into markets to weaken the yen. 99. In currency dealings, the dollar slipped against the yen as a senior Japanese currency official denied speculation that Japanese finance authorities were intentionally weakening the yen. 100. In Asian trading Friday, the Bank of Japan intervened repeatedly to prop up the dollar and weaken the yen. |