1.   On Monday, traders had little confidence that the new minister, Jean Arthuis, would forge economic policy that supported the franc, analysts said.

2.   If the dollar continues to rise, it would have a ricochet effect of supporting the franc against the mark.

3.   In Paris, dealers said the Bank of France had intervened to support the franc on Monday.

4.   There were rumours of intervention to support the franc but analysts here expected the main European currencies to change little before publication of US employment figures on Friday.

5.   Lehman Brothers analyst Martin Kay said that the franc was also supported by a helpful statement by Bundesbank president Hans Tietmeyer.

6.   Rumours spread through the London market that the French central bank had stepped in to support the franc.