Dollar Falls Vs. Mark, Gains Vs. Yen

The dollar dropped against the mark and most other European currencies Wednesday, hurt by fears that the budget impasse in Washington might not be resolved until the November elections.

But the dollar rose against the Japanese yen amid a growing belief among traders that Japan’s incoming prime minister will not be as much a trade hawk as initially thought.

In late New York trading, the dollar was worth 1.4368 marks, down from 1.4395 Tuesday. The dollar also was quoted at 104.86 yen, up from 104.65 yen Tuesday.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7330 1.3642

France .2032 4.9210

Germany .6960 1.4368

Great Britain 1.5465 .6466

Italy .000636 1573.40

Japan .009537 104.86

Mexico .133333 7.5000