BAKER DENIES CHANGE IN U.S. POLICY ON DOLLAR

  Treasury Secretary James Baker said
  there has been no change in U.S. policy on the value of the
  dollar.
      Baker, when asked if the policy was changed in view of
  comments yesterday by a senior Commerce Department official who
  said he thought the Japanese yen was undervalued against the
  dollar by 10 to 15 pct, replied, "No."
      Yesterday Robert Ortner, Undersecretary of Commerce for
  Economic Affairs, said he thought the yen was undervalued but
  said that was his personal view.
      This remark caused the dollar to drop as it appeared to
  conflict with a recent agreement in Paris by the United States
  and five other industrial nations that currency rates were at
  about the right level to reflect underlying economic
  conditions.
      Baker, who spoke earlier to the National Newspaper
  Association, declined to elaborate on his statement about U.S.
  policy.
  

