Dollar Surges In Broad Rally
The dollar hit a 2-year high against the mark and rose in most other currency trading Wednesday, deriving strength from Boris Yeltsin’s worsened health and speculation that Germany might lower interest rates.
The advance in the dollar came a day before Germany reports its unemployment rate for December, which traders said might be much worse than expected.
The policy-making council of the Bundesbank, Germany’s central bank also meets today in its first session of the year.
Exchange Currency in Dollars Dollar in foreign currency
Canada .7400 1.3513
France .1879 5.3215
Germany .6352 1.5743
Great Britain 1.6877 .5925
Italy .000649 1542.00
Japan .008639 115.76
Mexico .127926 7.8170