Dollar Stalls After Talks

The dollar fell against most major currencies Monday, amid speculation that proposed U.S. trade sanctions against Japan would be detrimental to the already ailing U.S. currency.

The Clinton administration’s economic team has recommended sanctions against automobile-related imports from Japan, after negotiations aimed at opening Japan’s auto market broke down Friday night.

“The market sold off in response to the failed auto talks and what that’s going to mean for dollar in the future,” said John McCarthy, foreign exchange manager at ING Capital Markets Inc.

Exchange Currency in Dollars Dollar in foreign currency Canada .7369 1.3570 France .2068 4.8345 Germany .7329 1.3645 Great Britain 1.6073 .6222 Italy .000617 1621.00 Japan .012041 83.05 Mexico .172117 5.8100