Dollar Mixed On Coordinated Intervention
NEW YORK -- The dollar overcame a round of coordinated intervention by the West German Bundesbank, the U.S. Federal Reserve, and five other European central banks to finish New York trading little changed as bullish sentiment on the U.S. currency continued unabated.</br></br>The dollar sales had little immediate impact on trading, temporarily slowing the dollar's rise. The dollar was quoted at 1.8424 marks in late New York trading yesterday, up from 1.8415 marks late Friday, and at 133.16 yen, down from 133.35 yen.</br></br>The dollar was quoted at 132.85 yen in early trading in Tokyo Tuesday.</br></br>During most of Monday, the dollar traded at or above intervention levels, but receded at the end of New York trading as dealers took profits on intraday positions in a thin market.</br></br>The Bundesbank stepped in when the dollar was trading around 1.8440 marks, which was up from its levels late Friday, and continued selling dollars throughout the morning, dealers said.