Budget Impasse Stalls Dollar Rally

Another collapse in federal budget talks and bearish comments from an influential analyst cut short a rally in the dollar Thursday, leaving the greenback mixed against leading currencies.

The dollar surged past 106 Japanese yen before word of the collapsed budget talks pulled the dollar off its high early in the afternoon.

In late New York trading, the dollar was quoted at 105.30 yen, up from 104.87 late Wednesday, but well off its high for the day. The dollar was worth 1.4430 marks in New York, down from 1.4453 late Wednesday.

Exchange Currency in Dollars Dollar in foreign currency Canada .7386 1.3540 France .2026 4.9350 Germany .6930 1.4430 Great Britain 1.5510 .6447 Italy .000633 1579.00 Japan .009497 105.30 Mexico .132802 7.5300