31. The Bank of Japan said it sold dollars and bought yen through its accounts at the New York Federal Reserve Bank. 32. The dollar fell against the yen because when investors sell marks for yen, they first sell marks for dollars and then sell the dollars to buy yen. 33. The dollar fell further against the yen than against the mark today because traders were buying yen for marks. 34. The dollar slipped against the yen as Japanese stocks rallied, prompting foreign investors to buy yen needed to purchase Japanese securities, traders said. 35. The lower value of the yen means Konica can buy more yen when it converts sales made in dollars into its home currency. 36. The shaky stock market also deters foreign investors from buying the yen they need to buy Japanese shares. 37. The shaky stock market also deters foreign investors from buying the yen needed to buy Japanese shares. 38. The U.S. dollar weakened amid speculation the Bank of Japan may buy yen to support the currency. 39. The yen was bought amid signs that Asian countries may be taking steps to deal with the economic crisis that has hit their currencies and stock markets. 40. The United States took global financial markets by surprise Wednesday, joining Japan in buying yen to stop the precipitous fall of the Japanese currency. |