Dollar Rises Ahead Of G-7 Meeting

The dollar strengthened against major currencies Tuesday as traders sought to protect themselves ahead of a meeting of industrial nations that could lead to a stronger U.S. currency.

The dollar’s rise was abetted by the Portuguese central banker who said intervention is quite possible following the upcoming weekend meeting of Group of Seven officials in Washington.

In late New York trading, the dollar ended at 101.35 Japanese yen, up from 100.35 yen Monday.

Bank of Portugal Governor Antonio de Sousa said Tuesday there was a strong chance that concerted intervention on behalf of the dollar could follow the G-7 meeting.

Exchange Currency in Dollars Dollars in foreign currency

Canada .7514 1.3309

France .2018 4.9550

Germany .6960 1.4367

Great Britain 1.5830 .6317

Italy .000619 1616.50

Japan .009877 101.25

Mexico .153846 6.5000