Dollar Gains Ground On Yen
The dollar rose against the yen for the third straight day Thursday on expectations that Japanese interest rates will remain low, but it mostly weakened against European currencies.
Traders said the market focused on the probability of rising interest rates in Britain, which boosted the pound, and new doubts about the prospect for a single European currency by the end of the decade, which benefitted the mark.
“There’s been so much movement in other currencies, the dollar’s taken to the sidelines,” said Peter Gorra, vice president at the New York branch of Banque Indosuez.
Exchange Currency in Dollars Dollar in foreign currency
Canada .7299 1.3701
France .1977 5.0590
Germany .6738 1.4842
Great Britain 1.5490 .6456
Italy .000658 1519.00
Japan .009239 108.24
Mexico .133244 7.5050