June 13, 1996 in Nation/World

Dollar Slumps Against Yen, Mark

 

A late afternoon slump in the U.S. Treasury market nudged the dollar lower against the German mark and Japanese yen Wednesday as both markets worried increasingly about inflation.

One day before a monthly retail sales report, the markets continued to grapple with whether the U.S. Federal Reserve will hike interest rates to strangle inflation.

A news report Wednesday afternoon indicated that Fed officials were divided over inflation risks. That hurt bonds and mildly weakened stocks, spilling over to the dollar.

Exchange Currency in Dollars Dollar in foreign currency Canada .7316 1.3669 France .1923 5.1990 Germany .6525 1.5325 Great Britain 1.5355 .6513 Italy .000645 1551.50 Japan .009170 109.05 Mexico .131752 7.5900

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