Dollar Turns In Mixed Performance

The dollar weakened broadly Monday but reached a new 33-month high against the yen following the election victory by Japan’s dominant party, which suggested Japanese interest rates would remain low.

Remarks by Bank of Japan Governor Yasuo Matsushita reiterating that the pace of the Japanese economic recovery remains mild also helped bolster the dollar and hurt the yen.

The dollar retreated against the mark and other key currencies, partly because they also strengthened on the yen’s weakness. In addition, traders locking in profits from the dollar’s strength against the mark last week contributed to the dollar’s mostly weaker showing.

Exchange Currency in Dollars Dollar in foreign currency Canada .7428 1.3463 France .1928 5.1855 Germany .6516 1.5347 Great Britain 1.5920 .6281 Italy .000653 1530.90 Japan .008868 112.77 Mexico .129266 7.7360