But to do so, they must first sell yen and buy dollars.

The Bank of Japan could easily decide to sell yen on the foreign exchange market.

They are selling yen and trying to get their money out of the Japanese stock market.

The dollar rose initially in Tokyo when traders began selling yen, which lost ground across the board.

The dollars accumulated by selling yen would then be used to buy Treasury securities.

These investors must sell yen to buy dollars, driving down their own currency.

But most hedge funds had been selling yen for some time, so they probably still have profits over all.

Several dealers said many institutions in Tokyo were selling yen for dollars to buy these securities.

So he switched again and sold yen to buy $13 million.

The Japanese central bank was also forced to intervene this year, selling yen to protect its exporters.