Stock Rally Fails To Help Dollar

Fri., Feb. 24, 1995

A strong rally in U.S. stocks Thursday that propelled the Dow Jones industrial average above 4,000 points for the first time failed to help the flagging dollar out of its threeweek-old slump.

The dollar fell against most key currencies as comments from U.S. and German central bankers reinforced foreign exchange dealers’ perceptions that a U.S. economic slowdown precludes further increases in American interest rates, while accelerating growth in Germany likely will mean higher rates there.

In late New York trading, the dollar was quoted at 1.4675 German marks, down from 1.4690 late Wednesday, and at 96.71 Japanese yen, down from 96.90.

Canada .7174 1.3940 France .1946 5.1375 Germany .6805 1.4695 Great Britain 1.5925 .6279 Japan .010331 96.80

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Stock Rally Fails To Help Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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