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Dollar Plunges Vs. Yen, Mark

Wed., April 19, 1995

The dollar plunged again Tuesday in foreign exchange trading, weakened by more pessimism over U.S.-Japanese trade talks and sour economic news that dampened prospects for a domestic interest rate increase.

Traders said they were disheartened about any near-term hope for a reversal in the dollar’s downward spiral, calling international efforts to boost the currency a piecemeal response. The apparent reluctance of the United States to take more aggressive action to defend the dollar also hurt.

In late New York trading, the dollar was quoted at 80.63 Japanese yen, down from 82.05 late Monday and near its all-time low of 80.15 reached earlier in the month.

Exchange Currency in Dollars Dollar in foreign currency Canada .7307 1.3686 France .2096 4.7710 Germany .7325 1.3652 Great Britain 1.6135 .6198 Italy .000588 1702.00 Japan .012290 81.37 Mexico .161551 6.1900

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