Rising Bond Prices Boost Dollar

Wed., Feb. 8, 1995

The dollar rose against key currencies Tuesday, reaching a threeweek high against the German mark in intraday dealings as bond prices rose on expectations of low inflation.

In the absence of economic news, currency traders are taking cues from the bond market, analysts said.

Bonds strengthened after Federal Reserve Board Governor John LaWare suggested late Monday the central bank has achieved through seven interest rate hikes a “soft landing” of economic growth, portending lower inflation.

The dollar traded as high as 1.5384 vs. the mark, its highest level in almost three weeks. In late New York trading, the dollar settled back at 1.5358 marks, up from 1.5309 late Monday. Exchange:

Canada .7164 1.3959 France .1882 5.3145 Germany .6505 1.5372 Great Britain 1.5569 .6423 Japan .010060 99.40

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Rising Bond Prices Boost Dollar

Jesse Tinsley

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