Dollar Advances Against Yen

The dollar fell against most major currencies Friday but gained against the Japanese yen as traders braced for a weekend Group of Seven meeting that could highlight U.S. uneasiness with Japan’s trade surplus.

The Mexican peso, meanwhile, rose to its strongest close since October 1996 on the strength of the surging Mexican stock market.

Although Japan’s burgeoning trade surplus, helped by a weak yen, is expected to be discussed at the meeting of finance officials from seven major industrialized nations, Treasury Secretary Robert Rubin said there would be no “dramatic statement” following the meeting.

Rubin said he expects a statement that might mention interest rates.