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Natural Sound XFA The U-S dollar was higher against the yen on Monday morning after finance authorities from Japan, the United States and Europe intervened in currency markets on Friday to defend the struggling euro. Tokyo stocks were sharply higher. The U-S dollar was trading at 107.66 yen on the Tokyo foreign exchange market at 3 p-m (0600 GMT) on Monday - up 0.68 yen from late on Friday, but below its late New York level of 107.84 yen. The benchmark Nikkei Stock Average of 225 issues closed up 174.65 points, or 1.10 percent from Friday, to 15,992.90 on the Tokyo Stock Exchange Monday. On Friday, the average closed down 492.8 points, or 3.02 percent. In currency dealings, the dollar largely carried over its strength against the Japanese currency from Friday in New York following the three central banks' action. SOUNDBITE: (English) "Markets rallied very sharply up around five percent - a complete turnaround from last week's disaster". SUPER CAPTION: Howard Gorges, Director South China Brokerage On Friday, officials from the European Central Bank, the U-S Federal Reserve Board and the Bank of Japan meeting in Prague teamed up to support the euro in currency markets. SOUNDBITE: (English) "There are several factors, the most important is that the U-S are releasing oil from its reserves, so that's going to bring down the price of oil. Secondly, the Euro, which has been under pressure, now looks to be supported by the main central banks, so that should help confidence in Europe and also help restore some confidence in earning prospects." SUPER CAPTION: Howard Gorges, Director South China Brokerage The greenback rose against the yen because the Bank of Japan can only pay for the European currency in dollars. The intervention increases the B-O-J's demand for the U-S currency. The euro was traded at 94.80 yen, up from 92.44 yen late on Friday in Tokyo. On the stock market, the Nikkei index bounced back on bargain-hunting following Friday's sharp falls. The broader Tokyo Stock Price Index of all issues listed on the first section was up 11.31 points, or 0.78 percent, to 1,478.24. The TOPIX closed down 46.78 points, or 3.09 percent, on Friday. The yield on the benchmark 10-year Japanese government bond rose to 1.8650 percent, up from its finish of 1.8600 percent on Friday. Its price fell 0.05 point to 100.29. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/d345bc9b6258848862fa0d4ecabc02a1 Find out more about AP Archive: http://www.aparchive.com/HowWeWork