Dollar Continues To Strengthen

The dollar surged to a 15-month high against the Japanese yen Wednesday, fueled by a dollar-buying spree by the Bank of Japan.

The greenback also rallied against the German mark, after Germany’s central bank lowered a key interest rate.

“We are starting to see an orderly reversal of the dollar,” said David Solin, a partner at Foreign Exchange Analytics in New York.

In late New York trading, the dollar rose to 102.75 yen from 101.10 yen Tuesday. That was its highest level since hitting 103.72 yen on June 17, 1994. The dollar also jumped up to 1.4937 marks from 1.4733 marks late Tuesday.

Exchange Currency in Dollars Dollar in foreign currency Canada .7374 1.3562 France .1944 5.1440 Germany .6686 1.4956 Great Britain 1.5475 .6462 Italy .000620 1613.00 Japan .009737 102.70 Mexico .159541 6.2680