Dollar Stable Despite Good News

Fri., Aug. 30, 1996

The dollar ended little changed Thursday, after rising on unexpectedly strong U.S. economic data that heightened expectations that the Federal Reserve would raise interest rates to prevent a resurgence of higher inflation.

A falling stock and bond market in the United States offset any lift the dollar received from the reports on sharply rising home sales and upward revisions on overall economic growth.

The U.S. currency finished slightly lower against the Japanese yen and German mark and was mixed overall against major currencies.

Exchange Currency in Dollars Dollar in foreign currency Canada .7318 1.3665 France .1977 5.0580 Germany .6773 1.4764 Great Britain 1.5575 .6421 Italy .000661 1513.60 Japan .009234 108.30 Mexico .132767 7.5320

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Dollar Stable Despite Good News

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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