March 26, 1996 in Nation/World

Dollar Drops Vs. Yen

 

The dollar retreated against the Japanese yen Monday, losing its safe-haven allure in Asia as political tensions between China and Taiwan eased.

But the U.S. currency surged against the pound as fears in Europe about the economic consequences of diseaseinfected British cattle spilled into the foreign exchange market. The dollar rose slightly vs. the mark on speculation of a German interest rate cut, but it was mostly lower elsewhere.

Investors in Asia began selling dollars at the start of the trading day, their first opportunity to react to the Saturday election in Taiwan

Exchange Currency in Dollars Dollar in foreign currency

Canada .7337 1.3629

France .1977 5.0585

Germany .6765 1.4781

Great Britain 1.5215 .6572

Italy .000641 1559.00

Japan .009420 106.16

Mexico .132890 7.5250


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