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Dollar Turns Mixed In Choppy Trading

Fri., July 19, 1996

The dollar finished mixed against leading currencies Thursday after falling sharply when Fed Chairman Alan Greenspan, testifying before Congress, implied that an interest rate hike isn’t imminent.

Uncertainty about the outlook for interest rates worldwide also contributed to the mixed result.

But it was Greenspan’s appearance that sent the dollar into a steep dive shortly before midday. The dollar slowly recovered during the afternoon and finished higher against the German mark, but couldn’t make up lost ground against the Japanese yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .7324 1.3654 France .1979 5.0535 Germany .6702 1.4920 Great Britain 1.5455 .6470 Italy .000659 1518.08 Japan .009220 108.46 Mexico .131406 7.6100

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