Profit-Taking Causes Dollar To Dip

The dollar slipped slightly against major currencies Wednesday amid profit-taking ahead of U.S. trade deficit figures, the unveiling of the Japanese fiscal stimulus package and the weekend meeting of the Group of Seven major industrial nations.

Traders also put aside concerns about a clash between the United States and Iraq as top United Nations officials prepared for a weekend meeting with Saddam Hussein.

The dollar also fell against the British pound as positive British economic data was thought to foretell a rise in interest rates.

Exchange Currency in Dollars Dollar in foreign currency Canada .6975 1.4337 France .1638 6.1053 Germany .5490 1.8216 Great Britain 1.6385 .6103 Italy .000557 1796.50 Japan .007913 126.38 Mexico .117385 8.5190