Dollar On A Roll

Tue., July 18, 1995

The dollar rallied against most major currencies Monday, touching a 15-week high against the Japanese yen, as a perception spread that central banks may intervene at anytime to boost the U.S. currency.

Speculation grew in the foreign-exchange market that the Federal Reserve and the Bank of Japan may hold another coordinated dollar-buying spree to thrust more support behind the dollar.

On July 7, the central banks staged a surprise intervention that sent the dollar to a six-week high vs. the yen.

The market “is seeing a concerted effort to keep the dollar ahead,” said John McCarthy, foreign exchange manager at ING Capital Markets Inc. in New York.

Exchange Currency in Dollars Dollar in foreign currency Canada .7377 1.3555 France .2060 4.8546 Germany .7165 1.3956 Great Britain 1.5945 .6272 Italy .000621 1610.50 Japan .011268 88.75 Mexico .167364 5.9750

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Dollar On A Roll

Jesse Tinsley

Jim Meehan

Molly Quinn

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