March 23, 1995 in Nation/World

Dollar Drops, Recovers A Bit

 

The dollar fell against the German mark and Japanese yen Wednesday after the Commerce Department reported America’s trade deficit surged 68.4 percent in January, well above economists expectations.

But the U.S. currency largely recovered, ending the day mixed. Traders concluded that the latest trade deficit figures, which many thought would put additional downward pressure on the dollar, may not have such a corrosive effect.

“The overall reaction is more subdued than one might have thought.” said Amy Smith, a senior currency strategist at IDEA, a New York financial market advisory firm.

Currency in Dollar in

Exchange Dollars Foreign Currency

Canada .7129 1.4027

France .2009 4.9765

Germany .7117 1.4050

Great Britain 1.5860 .6305

Italy .000588 1700.00

Japan .011261 88.80

Mexico .141844 7.0500


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