Dollar Tumbles On Trade News
The dollar finished below 111 yen for the first time in seven weeks Friday, hurt by nervousness over the potential impact of two reports on the U.S.-Japanese trade imbalance to be released next week.
The strength in the yen negated any boost the dollar may have received late Thursday from Treasury Secretary Robert Rubin, who reiterated his support for a strong U.S. currency.
In most other foreign-exchange dealings the dollar ended marginally higher, partly because demand for yen weakened other currencies relative to the dollar. But it fell against the pound, which remains at a four-year high vs. the dollar on expectations of higher interest rates in Britain.