TOKYO — Japan’s main bank took the uncommon action Thursday of steppingin in the market to stem the yen’s decrease versus the U.S. dollar.
Earlier in the day, the dollar increased to almost 146 yen — a 24-year low — after the Bank of Japan left its secret financing rate thesame listbelow the U.S. Federal Reserve’s choice to raise its criteria rate by three-quarters of a portion point.
The dollar lateron fell greatly to about 142 yen. It was trading at 143.05 yen early Thursday earlymorning U.S. time, and it was uncertain if the BOJ’s action would suffice to keep the yen at a steady level.
Masato Kanda, the vice minister of financing for global affairs, verified the dollar selling and yen purchasing intervention to regional pressreporters, stating the main bank had made a “bold relocation.” The BOJ does not generally reveal such procedures itself.
Finance Minister Shunichi Suzuki stated in telecasted remarks that the federalgovernment and centra