Dollar Gains On Weakened Mark

Widespread weakness in the mark left the dollar mostly stronger in foreign exchange trading Tuesday but the U.S. currency fell to another four-year low against the surging British pound.

Although there was no news to spur additional appetite for the pound, traders said the currency’s momentum over the past several days pushed it past important technical levels which incited more buying.

“For sterling, the news only gets better there every day,” said Rob Sabia, a vice president of foreign exchange at ING Capital Markets Inc. in New York.

Britain is the only major industrialized country where interest rates are clearly going up and the economy is improving.

Exchange Currency in Dollars Dollar in foreign currency Canada .7452 1.3420 France .1965 5.0890 Germany .6643 1.5053 Great Britain 1.6739 .5974 Italy .000661 1512.00 Japan .008977 111.40 Mexico .126871 7.8820