The Swiss National Bank bought dollarsand sold yen in concerted action along with the Bundesbank and
the U.S. Federal Reserve Board, a bank spokesman told Reuters.
    "We intervened in dollar-yen with the Bundesbank and the
Fed," he said. He declined to specify the extent of the
intervention, which took place at around 1200 GMT, after
reports by Frankfurt dealers the Bundesbank was in the market.
    The intervention failed to prevent the dollar dipping to
1.4548 Swiss francs at around 1320 GMT, close to its all-time
low of 1.4510 francs set on September 26, 1978. It then
steadied to 1.4560/75 francs.
 REUTER
