Peso’s Woes Drag Down Dollar

The dollar tumbled in late U.S. trading Thursday, reversing a strong rally overseas, as investor anxiety intensified over the U.S. budget brawl, Mexican economic plight and Quebec secession movement.

“The message in the market right now is don’t own North American currencies,” said Dave Glowacki, senior trader at NBD Bank in Detroit. “They’re too risky.”

In late New York trading, the dollar ended at 1.3651 Canadian dollars, down from 1.3696. The peso closed at 7.2350, its lowest level since March 9.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7308 1.3684

France .2040 4.9025

Germany .7184 1.3920

Great Britain 1.5795 .6331

Italy .000629 1590.00

Japan .009867 101.35

Mexico .140252 7.1300