Bank of Japan acts to halt yen rise

JAPAN - The Bank of Japan was ordered by the Ministry of Finance to intervene to weaken the yen for the second consecutive day yesterday as part of the government's drive to ensure that the country's fledgling economic recovery is given a chance to get off the ground.

The Japanese currency weakened from about Y123.8 to the dollar to just below Y125 - the level the ministry appears to think represents fair value despite the market's desire to strengthen it.

Masaru Hayami, the central bank's gove