June 1, 1995 in Nation/World

Next Test For Dollar Friday


The dollar surged against key currencies Wednesday after the Federal Reserve bought dollars in concert with central banks of several countries.

But analysts and traders say the intervention’s lasting success will be keenly tested by the release Friday of May U.S. employment data, which many forecast to show a significant upward revision in the unemployment rate for April, said Ann Mills from Lehman Bros.

“We’ll see if greed overcomes fear,” Mills said. “I think a lot of people will be looking at this (intervention) as a selling opportunity and Friday’s unemployment numbers will be a focus.”

Exchange Currency in Dollars Dollar in foreign currency Canada .7307 1.3685 France .2017 4.9575 Germany .7085 1.4115 Great Britain 1.5875 .6299 Italy .000610 1639.20 Japan .011841 84.45 Mexico .162470 6.1550

Thoughts and opinions on this story? Click here to comment >>

Get stories like this in a free daily email