Dollar Advances Against The Mark

The dollar advanced against the mark to its highest finish in almost 2-1/2 years Friday, helped in part by the British pound’s strength against the German currency.

Against the yen, the dollar made some progress on an overnight rally in Japanese bonds that sent interest rates lower.

By the trading day’s end in New York, the dollar had risen to 1.7387 marks from 1.7256 on Thursday. Its last close that high came in February 1994. The dollar was trading at 114.55 yen, up from 113.15 yen. The British pound fell to $1.6639 from $1.6653.

“The U.S. dollar itself is really the byproduct by which other currencies are moving,” said John Nelson, manager of foreign exchange trading at ABN-AMRO Bank.