Dollar Shows Hope

The dollar moved higher against the Japanese yen and German mark Monday amid renewed speculation that the Group of Seven industrial nations might make a concerted effort to boost the ailing U.S. currency.

“The market doesn’t really expect much to happen at the G-7 meeting,” said David Glowacki, a senior trader at NBD Bank in Detroit. “But market players want to square their positions in case something does happen.”

Foreign exchange market speculation that finance ministers conferring Tuesday in Washington might take decisive action to boost the dollar has played a big influence in the currency’s erratic behavior for the past several days.

Exchange Currency in Dollars Dollar in foreign currency Canada .7329 1.3645 France .2054 4.8685 Germany .7262 1.3770 Great Britain 1.5985 .6256 Italy .000585 1709.00 Japan .012029 83.13 Mexico .170940 5.8500