Dollar Shows Signs Of Stabilizing

The dollar renewed its decline against the Japanese yen but edged higher against the German mark Thursday, a possible sign that the U.S. currency was stabilizing further from a week-long selling assault.

Activity in the $1 trillion global foreign exchange market was described as relatively subdued for the first time since the dollar last week began plunging to a series of record lows against the yen and the mark. It recovered strongly in volatile trading Wednesday.

“After the last four-to-five days, people just sat back a bit,” said Dave Glowacki, a senior currency trader at NBD Bank in Detroit.’ “It’s the first breather since late last week.”

Currency in Dollar in

Exchange Dollars foreign currency

Canada .7077 1.4130

France .2015 4.9635

Germany .7196 1.3896

Great Britain 1.6150 .6192

Japan .011050 90.50