Dollar Follows Stocks Lower

Wed., Aug. 14, 1996

The dollar fell slightly against most key currencies Tuesday, following U.S. stocks and bonds lower on signs of unexpected inflationary pressure in the American economy.

Strength in the German mark also helped weaken the dollar, traders said.

The dollar initially rose after the Labor Department reported its consumer price index rose 0.3 percent in July, more than forecasters anticipated.

But the bond market reacted negatively to the news, pulling down stocks and undermining demand for the dollars needed to buy them.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7280 1.3736 France .1979 5.0530 Germany .6780 1.4750 Great Britain 1.5495 .6454 Italy .000660 1514.20 Japan .009297 107.56 Mexico .133779 7.4750

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Dollar Follows Stocks Lower

Jesse Tinsley

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