There was no secret pact among the...

There was no secret pact among the United States, West Germany and Japan to stabilize the dollar by setting target zones for its value, West German Economics Minister Martin Bangemann said in a radio interview. Brokers have said rumors of a three-nation pact were among factors which helped the dollar during a rebound it made last week from historic lows. However, in a German radio interview Bangemann said: “There is no such secret agreement. There is a clear readiness . . . to do everything, and especially that the central banks will do everything, to smooth out erratic fluctuations with the use of appropriate measures.”