Dollar Up Slightly Against Mark

Thu., Dec. 5, 1996

The dollar ended slightly higher against the mark Wednesday on a rumor that Germany’s central bank might cut interest rates, but the U.S. currency ended mixed in other foreign-exchange dealings.

Traders said there was little to guide the market for the first time this week, following the dollar’s surge on Monday and the pound’s tumble on Tuesday. Some attributed the dollar’s mixed showing to zigzags of the U.S. stock and bond markets, where prices lurched sharply lower before partly rebounding by day’s end.

“These markets travel in tandem when there’s no economic news or fundamental news driving it one way or another,” said Kevin Lawrie, vice president of foreign exchange trading at Mellon Bank in Pittsburgh.

Exchange Currency in dollars Dollar in foreign currency Canada .7384 1.3543 France .1898 5.2690 Germany .6410 1.5601 Great Britain 1.6434 .6085 Italy .000652 1533.60 Japan .008844 113.07 Mexico .127105 7.8675

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Dollar Up Slightly Against Mark

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