Overseas Trading Boosts Dollar

The dollar strengthened Monday, rebounding from a record low vs. the yen in Asia following intervention by Japan’s central bank and rising against the German mark on supportive comments from European officials.

But the increase came largely on overseas markets before the start of U.S. trading. Analysts said U.S. dealings were sluggish, and traders were content to let the dollar sit on its foreign gains. With no fresh economic data or market-affecting news, they found few reasons to push the dollar in either direction.

“New York did the prudent thing. The market just was in a profit-taking, consolidating mode after last week’s hectic activity,” said Steven Flanagan, a vice president in New York for Credit Agricole.

Canada .7108 1.4069 France .2007 4.9830 Germany .7116 1.4053 Great Britain 1.5733 .6356 Italy .000575 1738.68 Japan .011173 89.50 Mexico .143266 6.9800