Leaders Disappoint Dollar

Tue., Oct. 10, 1995

The dollar fell Monday amid disappointment that a weekend meeting of leading industrial nations yielded only a lukewarm communique supporting the greenback and didn’t bring any immediate market intervention.

The Group of Seven industrial nations - Britain, Canada, France, Germany, Italy, Japan and the United States - said they support a strong dollar. But the statement left open questions about whether the central bankers and finance ministers would seek to push the dollar upward.

The weekend communique signaled “less of a coordinated desire to push the dollar higher,” said Chris Turner, an economist in London with Barclays de Zoette Wedd.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7491 1.3350 France .2016 4.9606 Germany .7082 1.4120 Great Britain 1.5860 .6305 Italy .000622 1607.35 Japan .009970 100.30 Mexico .152207 6.5700

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Leaders Disappoint Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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