Downtrodden Dollar Drops

Tue., April 18, 1995

The dollar fell sharply in foreign exchange trading Monday as dealers remained concerned by Japan’s huge trade surplus with the United States and the questionable Japanese efforts to aid the U.S. currency.

Money dealers have discounted a plan Japan unveiled Friday to narrow the trade gap and give the dollar a boost by pushing the yen’s value down. Dealers also are pessimistic about a new round of trade talks the two countries began Monday.

The U.S. trade deficit with Japan, which was a record $66 billion last year, is a leading cause for the dollar’s weakness. The dollar is pressured when Japanese companies convert their large amounts dollar holdings to yen.

Canada .7321 1.3659 France .2094 4.7765 Germany .7318 1.3665 Great Britain 1.6225 .6163 Italy .000592 1688.00 Japan .012188 82.05 Mexico .160256 6.2400

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Downtrodden Dollar Drops

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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