Dealers see Moderate Dutch Central Bank yen Sales

The Dutch central bank has intervened in the currency markets today, in apparent concerted action with other central banks, foreign exchange dealers said.

They detected selling of the yen for dollars, which some estimated would run to a moderate 200 mln guilders, comparable to token Dutch intervention reported last week.

Other dealers, however, said they believed today’s moderate intervention had been in guilders against dollar.

The dealers agreed the intervention was minimal and more a political gesture than a market moving force.