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SCMP Reporter

The US dollar remained conspicuously subdued against the yen yesterday after a surprisingly unified stance on the currency was adopted by the Group of Seven (G7) at the weekend.

  On the first day of trading after the G7 called for stability in the surging dollar, the greenback was trading at 122.69/73 yen in Europe, down from the 122.74 level found in Asian trading.

  Yesterday Bundesbank president Hans Tietmeyer, who attended the G7 summit, said market reaction was appropriate and indicated the G7's message had been understood.

  Analysts said they expected the dollar to sink to 121 yen, but then recover in the next few weeks. Full report, Page 7 



Dollar subdued