Dollar Retreats On Trade Numbers

The dollar fell sharply against most currencies, hurt by an unexpectedly large increase in the U.S. trade deficit and new evidence of vitality in Germany’s economy that helped strengthen the mark.

But the dollar recouped against the yen, which weakened broadly in late U.S. trading on a report by Kyodo News Service that Japan’s Ministry of Finance was closing Hanwa Bank, a regional bank, because of insolvency.

“That bank has a huge amount of bad loans and is a reflection of Japanese banking weakness,” said Kazuhiko Sekiguchi, vice president of foreign exchange at Toyo Trust & Banking Co. in New York.

Exchange Currency in Dollars Dollar in foreign currency Canada .7466 1.3394 France .1974 5.0658 Germany .6681 1.4968 Great Britain 1.6770 .5963 Italy .000669 1493.75 Japan .008965 111.55 Mexico .126871 7.8820