Euro Pales In Brazil's Shadow
BANKS
LONDON--The focus of attention in the currency markets shifted rapidly last week from the euro to the Japanese yen and Brazilian real.
Early in the week, the Bank of Japan (BoJ) intervened in the markets, selling yen to an estimated value of between $1-3 billion, in order to prevent the currency from strengthening further against the dollar. The dollar had weakened to 108.21 yen on Monday, but bounced back to 112.46 , as a result of BoJ's actions.
Then on Wednesday, the Brazilian central bank was
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