Dollar Slips In Profit-Taking

The dollar slipped Thursday as traders sold the currency to take profits from its rise to its highest level against the Japanese yen in nearly five months.

In late New York trading, the dollar was quoted at 90.50 yen, down from 90.95 late Wednesday. At one point early Thursday in Tokyo, the dollar reached 91.25 yen, the highest level since early March, before selling began by exporters and traders cashing in on the rally.

The dollar also was trading at 1.3903 German marks in New York, down from 1.3979.

The dollar surged higher Wednesday as the central banks of the United States and Japan bought dollars in the open market.

Exchange Currency in Dollars Dollar in foreign currency Canada .7361 1.3585 France .2089 4.7875 Germany .7197 1.3895 Great Britain 1.6068 .6224 Italy .000635 1574.00 Japan .011057 90.44 Mexico .163265 6.1250