Intervention spree goes on

FRONT PAGE NEWS

TOKYO -- Following a spate of interventions since the attacks on the US, the Bank of Japan (BoJ) entered the market again last week -- with two unlikely allies.

For the second time in its history, the European Central Bank (ECB) intervened last Monday (September 24) on behalf of the BoJ, buying euros and selling yen. And in a repeat salvo on Wednesday, the BoJ bought dollars for yen and the ECB bought euros for yen. Later in the week, the US Federal Reserve also joined the market on behalf of