FED'S JOHNSON SAYS FED ACTED TO STABILIZE DOLLAR Federal Reserve Board Vice Chairman Manuel Johnson said the dollar has stabilized against other currencies after action taken by the Fed. "We have taken the appropriate action and the dollar has stabilized," Johnson said after testifying to a House Banking subcommittee. He did not elaborate on the nature of the action nor when it was taken, but said that it was in the spirit of the agreement reached by six industrial nations in Paris recently. Johnson said the dollar's decline against other currencies such as the Japanese yen has been gradual. Since the accord by the United States, Britain, West Germany, Japan, France and Canada, foreign exchange markets have been closely watching for indications of intervention by central banks to determine the committment by those nations to their agreement. The nations agreed that currency exchange rates were at about the correct levels when the pact was signed earlier this year.