Dollar Falls Ahead Of Long Weekend

Another blow to hope for higher U.S. interest rates and skepticism about an anticipated Japanese economic stimulus package pushed the dollar lower against major foreign currencies in light trading Thursday.

The dollar was pressured by a U.S. government report that suggested a slowing pace of retail sales, reinforcing other signs of a cooling economy.

Traders also were hesitant ahead of the long holiday weekend and the scheduled release of an emergency economic package by Japan to help counter the harmful effects of the rising Japanese yen.

In late New York trading, the dollar was quoted at 83.35 Japanese yen, down from 83.68 late Wednesday.

Exchange Currency in Dollars Dollar in foreign currency Canada .7282 1.3732 France .2068 4.8355 Germany .7215 1.3860 < Great Britain 1.6080 .6219 Italy .000586 1706.00 Japan .012012 83.25 Mexico .160000 6.2500