German Remarks Boost Dollar

The dollar rose Thursday afternoon after Germany’s central banker said a weak mark and a strong dollar would be good for the German economy.

Bundesbank President Hans Tietmeyer made his remarks after new economic figures showed a further slowdown in Germany’s economy. Tietmeyer’s comments combined with the economic data convinced analysts further that lower German interest rates were imminent.

The dollar’s upward move against the mark helped pull the greenback up against other major currencies.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7308 1.3683 France .2008 4.9800 Germany .6912 1.4467 Great Britain 1.5325 .6525 Italy .000627 1594.00 Japan .009855 101.47 Mexico .129702 7.7100