Budget Deadlock Looms Over Dollar

The dollar fell against most leading currencies Wednesday, weighed down by lingering concerns over the U.S. budget impasse.

The budget deadlock between President Clinton and the Republican Congress forced much of the government to shut down for a second day and no compromise between the sides seemed near. That left holders of dollar-denominated investments nervous over whether the crisis would drag on.

In late New York trading, the dollar bought 101.38 yen, down from 101.66 at the same time Tuesday.

Exchange Currency in Dollars Dollar in foreign currency Canada .7386 1.3540 France .2060 4.8550 Germany .7111 1.4062 Great Britain 1.5570 .6423 Italy .000630 1588.20 Japan .009864 101.38 Mexico .127226 7.8600