Reading that traders believe that Asian central banks bought dollars in the foreign exchange markets to prevent their currencies from appreciating against the dollar in an attempt to help the domestic exporters. The Japanese have expressed this possibility but haven’t done anything, but I would expect some action in the near future as the yen continues to show strength relative to the dollar. Fujii said in an interview, "I for one do not believe that authorities should intervene in foreign-exchange markets in an excessive way. However, if forex market movements are outrageously reckless, or acting without any order, then I think some kind of measures are needed." He added, "Looking at the current situation, I don't regard it as being extremely abnormal."
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