Dollar Rises With Stocks, Bonds
The dollar rose Thursday, spurred by a strong showing in U.S. stocks and bonds and comments by Federal Reserve Chairman Alan Greenspan that the Asian currency crisis would have only a moderate effect on the United States.
Analysts said Greenspan’s testimony before Congress played down the seriousness of the Asian crisis’ effect on the United States - especially in light of numerous earnings reports by major corporations blaming Asia for profit shortfalls.
The Mexican peso and the Canadian dollar also fell noticeably against the U.S. dollar.
Exchange Currency in Dollars Dollar in foreign currency Canada .6897 1.4500 France .1633 6.1252 Germany .5470 1.8280 Great Britain 1.6396 .6099 Italy .000555 1803.00 Japan .007957 125.67 Mexico .117994 8.4750