Yen dips but near 15-yr high vs dlr, Japan move eyed

* Short-covering, Japanese importer buying supports dollar

* But selling interest seen likely to emerge near Y85.00

* Dollar drop could accelerate if Y83.50 breached

* Dollar burdened by sliding yields, talk of Fed easing

The yen pulled back from 15-year highs on the dollar and a nine-year peak on the euro on Wednesday due to chances that Japanese authorities may take steps such as yen-selling intervention to stem the yen's rise.

The caution initially stemmed from a Nikkei business daily report saying Japan's Ministry of Finance may consider unilateral yen-selling market intervention if speculators drive up the currency. Read more

News - August 2010