31.   Fischer said that it was appropriate for central banks to intervene to support the dollar when it was undervalued by the market.

32.   He declined to say to what extent the central bank may intervene to support the peso.

33.   He said central banks might intervene to support the US currency and traders could engage in profit-taking on the German mark before the long weeked.

34.   He refused to be drawn on whether the US authorities would intervene to support the dollar.

35.   He said that the Spanish central bank had then intervened to support the peseta against the mark.

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

37.   In Milan the Bank of Italy said it had intervened to support the lira.

38.   In Paris, the market started out modestly on bookkeeping operations, but then picked up speed after central banks intervened to support the US dollar.

39.   Both the US Federal Reserve and the Bank of Japan intervened to support the dollar in trading on Monday.

40.   But he declined to say to what extent the central bank may intervene to support the peso.