The dollar fell slightly against key currencies in quiet, directionless trading Thursday as dealers awaited January wholesale price data for indications on the direction of the U.S. economy and interest rates.
“The dollar has been locked in a tight range,” said Tom Benfer, director of foreign exchange at the Bank of Montreal in New York. “We haven’t had any substantive information on the economy all week. The market is marking time.”
In late New York trading, the dollar was quoted at 98.90 Japanese yen, down from 98.95 late Wednesday. The dollar also was changing hands in New York at 1.5286 German marks, down from 1.5314.
Currency in Dollar in
Exchange Dollars foreign currency
Canada .7159 1.3969
France .1891 5.2885
Germany .6537 1.5297
Great Britain 1.5555 .6429
Japan .010108 98.93