Hopeful Traders Boost Dollar

The dollar rose against most major currencies Monday, helped by speculation that the Federal Reserve and other central banks would orchestrate another large-scale dollarbuying campaign this week.

Rumors surfaced that the central banks would return to the foreignexchange market as a follow-through to last Wednesday’s surprise intervention, when the United States and about a dozen other central banks bought billions of dollars to help stop the currency’s fall.

On Monday, traders wanted to secure their positions ahead of another possible coordinated move. Many were caught off guard by the intervention last week and had to scramble to buy dollars in order to minimize their losses.

Exchange Currency in Dollars Dollar in foreign currency Canada .7267 1.3760 France .2029 4.9275 Germany .7107 1.4070 Great Britain 1.5985 .6256 Italy .000612 1635.00 Japan .011797 84.77 Mexico .162338 6.1600