Dollar Down In Tight Trading

Wed., Dec. 11, 1996

The dollar fell moderately Tuesday as some traders took profits from Monday’s rise and others held off buying ahead of U.S. inflation statistics later in the week.

Traders said the dollar remained in a fairly tight range with little news to justify big moves.

Monday’s rise was largely a recovery from the sharp fall Friday spurred by Federal Reserve Chairman Alan Greenspan’s question on whether U.S. stock markets were irrationally high.

Tuesday saw dollar trading detach from the stock market, which pushed higher for a second day in a row.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7365 1.3577 France .1906 5.2470 Germany .6442 1.5524 Great Britain 1.6537 .6047 Italy .000653 1531.50 Japan .008818 113.41 Mexico .127226 7.8600

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Dollar Down In Tight Trading

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