Dollar Falls In Volatile Trading

The dollar turned lower against major currencies in volatile trading Thursday. The dollar rallied after German central bankers cut two interest rates but then it retreated on a report pointing to a lagging U.S. economy.

The rally had sent the dollar to nearly 1.50 German marks, a point not seen since February 17. But in late New York trading, the dollar fetched 1.4737 German marks, down from 1.4833 late Wednesday. The dollar also fell to 96.53 Japanese yen from 96.60 late Wednesday.

The see-saw course began when the German Bundesbank lowered both its Lombard and discount rates by one-half percentage point.

Exchange Currency in Dollars Dollar in foreign currency Canada .7364 1.3580 France .1971 5.0735 Germany .6766 1.4779 Great Britain 1.5418 .6486 Italy .000619 1616.00 Japan .010347 96.65 Mexico .156986 6.3700