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English/Nat The dollar bounced back Tuesday against the Japanese yen in European trading after sinking to a new postwar low against the currency in earlier dealings in Asia. The dollar drifted a little higher Tuesday morning, propped up by Bank of Japan and U-S Federal Reserve intervention. Analysts say the slight upward trend is set to continue when the market opens in Wall Street. The financial markets are pausing for breath - after several days' hectic trading during which the dollar plummeted to historic lows against the yen. The dollar was higher against the German mark but lower against some other major currencies in European trading. But the dollar sank to record lows of 85.75 yen during the day in Tokyo its lowest levels since modern exchange rates were set in the late 1940s. The previous global low was 86.00 yen set during trading Monday in New York. Exchange rates on Tokyo's foreign currency market gyrated as the Japanese central bank tried to support the ever weakening dollar. Japanese Finance Minister, Masayoshi Takemura, released a written statement early on Tuesday morning pledging continued contact with other monetary authorities in a bid to stabilize developments in the world economy. Stocks traded down for the first hour of trading but picked up by the close of the morning session. Since the beginning of the year, the dollar has lost 13 percent of its value against the yen, pushing up the price of Japanese exports. The erratic trends on both the stock and foreign exchanges casts doubts on Japan's economic recovery which was making slow progress. SOUNDBITE: We still see the currency market being one of dollar weakness rather than just yen strength. But with regard to the domestic situation, the strong yen is just one of a number of factors which is helping to depress the stock market. SUPER CAPTION: Chris Calderwood, Barclays Bank Chris Calderwood believes it will take policy changes to curtail the current trend SOUNDBITE: It seems to us like the US policy makers are beginning to become more concerned by the weakness of the dollar. But it is important to remember that because most American imports are priced in dollars anyway the inflationary impact of a weak dollar is relatively limited. So in terms of how much U.S. policy makers should be concerned by the dollar weakness is not that great. And the halting of the dollar slide really depends on a shift in policy in currency as well as a shift in policy in Japan and Germany. SUPER CAPTION: Chris Calderwood, Barclays Bank The Bank of Japan intervened again on Tuesday morning, and the dollar had rallied to trade just above the 86 yen line by the end of trading. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/c0d433ad0ef2a24fd6634f7fb79460e0 Find out more about AP Archive: http://www.aparchive.com/HowWeWork