Only Yen Keeps Dollar On A Roll

The dollar strengthened further against the yen Friday on pessimism about the outlook for Japan’s economy, but the U.S. currency ended slightly lower in most other foreign-exchange dealings.

Traders said demand for the mark and pound helped blunt the dollar’s strength. Some traders also took the opportunity to take profits from the U.S. currency’s gains on Thursday.

Volume was light, and many dealers expected that trend to continue for the rest of 1996. Many European traders are taking the entire Christmas week off.

“It’s really quieted down, with people getting into holiday mode,” said Victor Polce of the New York branch of Commerzbank.