Trade Sanction Fears Drop Dollar

Tue., May 16, 1995

The dollar fell Monday against major currencies in profit-taking following last week’s rally and amid uneasiness as the United States prepared to announce possible trade sanctions against Japan.

Market participants said dealings were quiet, though, with no news or economic data moving the market.

Last week, the dollar rose more than 5 percent against the German mark and 3.3 percent against the Japanese yen on hopes that the United States would take decisive steps to lower its trade and budget deficits.

The Clinton administration said last week it would impose trade sanctions against Japan if it won’t open its markets to U.S. cars and auto parts.

Canada .7355 1.3596 France .1975 5.0625 Germany .6916 1.4460 Great Britain 1.5690 .6373 Italy .000612 1634.50 Japan .011537 86.68 Mexico .168350 5.9400

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Trade Sanction Fears Drop Dollar

Jesse Tinsley

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