Dollar Gains Vs. Yen

The dollar strengthened against the Japanese yen Monday after Japan’s finance minister indicated he may reduce interest rates in an effort to halt the yen’s rise.

Meanwhile, the dollar tumbled against the German mark as speculation diminished that the German central bank would consider lowering interest rates during its policy-making meeting this Thursday.

“Traders are watching closely to see if interest rates are going to move,” said Paul Farrell, head currency trader at Chase Manhattan Bank in New York. “Much of the trading is based on speculation of what’s to come.”

Exchange Currency in Dollars Dollars in foreign currency Canada .7146 1.3993 France .2020 4.9505 Germany .7112 1.4060 Great Britain 1.5955 .6268 Italy .000588 1699.60 Japan .011204 89.25 Mexico .147493 6.7800