Arrow-right Camera
The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Dollar Falls On Greenspan Remarks

The dollar fell sharply on Wednesday as U.S. financial markets were rattled by a warning from Federal Reserve Chairman Alan Greenspan that tight labor markets could soon prove inflationary.

The dollar also came under pressure against the German mark, extending Tuesday’s retreat, on a report that Germany could raise its own short-term rates as early as today.

Traders said the main thing sending the dollar lower was weakness in the other U.S. financial markets.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7286 1.3725

France .1702 5.8749

Germany .5719 1.7485

Great Britain 1.6223 .6164

Italy .000583 1714.00

Japan .008261 121.05

Mexico .129016 7.7510