Dollar Slips On Trade Figures

The dollar slumped against most major currencies Thursday after a report showed the U.S. trade deficit ballooned to an unexpected $11.31 billion in June.

Uncertainty over whether major central banks would again try to support the dollar initially stemmed the currency’s fall. But the dollar moved lower late in the session amid profit taking by market players cashing in on the currency’s strong rise this week.

In New York, the dollar was quoted at 97.05 yen in the late afternoon, down from its 97.78 late Wednesday. The dollar was trading in New York at 1.4728 marks, down from 1.4782.

Exchange Currency in Dollars Dollars in foreign currency

Canada .7358 1.3590

France .1976 5.0610

Germany .6773 1.4765

Great Britain 1.5440 .6477

Italy .000618 1619.00

Japan .010242 97.64

Mexico .162075 6.1700