The dollar rose against major currencies Wednesday ahead of a German central bank meeting that was expected to bring lower interest rates and prompt other European countries to follow.

The expectations for lower interest rates in Britain pushed the pound to a 16-month low against the dollar. The focus on Europe led traders to largely ignore the Japanese yen, which drifted lower against the dollar.

In late New York trading, the dollar was quoted at 1.4366 marks, up from 1.4335 late Tuesday. The dollar also was changing hands in New York at 101.58 Japanese yen, up from 101.15.

Exchange Currency in Dollars Dollar in foreign currency Canada .7312 1.3677 France .2022 4.9445 Germany .6961 1.4366 Great Britain 1.5336 .6521 Italy .000627 1594.00 Japan .009844 101.58 Mexico .134048 7.4600