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Stock Surge Fails To Lift Dollar

Thu., Nov. 7, 1996

A post-election surge on Wall Street Wednesday failed to emphatically spill over into the dollar, which ended mixed on profit-taking from the currency’s Election Day rally.

Uncertainties about President Clinton’s cabinet choices in his second term also weighed on the dollar. News that the secretaries of state, defense and commerce would resign focused speculation on whether Treasury Secretary Robert Rubin, a vocal advocate of a strong dollar, might leave as well.

There was no word from Rubin about his plans.

Exchange Currency in Dollars Dollar in foreign currency Canada .7513 1.3311 France .1951 5.1260 Germany .6590 1.5175 Great Britain 1.6418 .6091 Italy .000657 1521.50 Japan .008777 113.93 Mexico .126502 7.9050

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