TOKYO, May 21 (AFP) - The dollar fell sharply against the yen in Tokyo on Friday as exporters locked in profits, dealers said. At 2:00 p.m. (0500 GMT) the dollar traded at 123.80-82 yen, hardly moved from 123.82-84 yen three hours earlier here, but sharply down from 124.27 yen in New York late Thursday. The dollar's fall came even though Japanese Finance Minister Kiichi Miyazawa said the US currency, now close to a seven-month high against the yen, had not risen too far against the Japanese unit. Asked if he thought the dollar's sudden rise against the yen this week was an overshoot, Miyazawa said: "No, I do not." "But I am monitoring carefully the movements," in the currencies, he told reporters. Miyazawa said another stimulus spending plan, financed by a supplementary budget, may be needed this year. "If the budget already allocated falls short," then another budget may be needed, he said. "Employment is the most important issue, and I wouldn't spare any expense for that." In the past Miyazawa has ruled out any extra budget saying two huge packages last year worth a combined 40 trillion yen (325 billion dollars) were enough. Dealers said the hint of further government spending could still weaken the yen. "It can also be interpreted as meaning the Japanese economy is weak," said Kazuo Takayama, head of foreign exchange at Midland Bank in Tokyo. "What is rather significant right now is selling of the dollar by exporters," he said. The dollar also slid in New York trade after the release of US trade figures, which showed the US deficit with Japan was at a four and a half year high. But Federal Reserve chairman Alan Greenspan took a positive view on the US economy. "There is no evidence that there is any immediate problem coming because of the fact that we are, as an economy, growing far faster than the rest of the world," Greenspan said. The euro traded 1.0604 dollars at 2:00 p.m. (0500 GMT) compared with 1.0611 dollars three hours earlier here and 1.0622 dollars in New York late Thursday.  