Dollar’s Strength Fades A Bit
The dollar weakened Thursday while the German mark advanced broadly against key European currencies, hitting a record high against Spain’s peseta, as investors sought refuge from political and financial anxieties.
The market focused on trading between European currencies, analysts said, while dollar dealings were somewhat sluggish ahead of today’s U.S. employment report. Traders were looking to the key job creation number for an indication of the strength of the American economy, a figure expected to influence the timing and size of the next interest-rate increase by the Federal Reserve.
In late New York trading, the dollar was quoted at 1.5508 marks, down from 1.5593 late Wednesday.
Exchange Currency in Dollars Dollar in foreign currency Canada .7143 1.4000 France .1868 5.3545 Germany .6441 1.5525 Great Britain 1.5620 .6402 Japan .009906 100.95