European Rate Cuts Boosts Dollar

Interest rate cuts in Europe helped the dollar rise Thursday against major currencies, adding to gains achieved earlier in the week on widespread expectation of lower rates.

The dollar rose against the German mark and the Japanese yen mainly on the weakness of European currencies, particularly the mark, which was broadly lower.

By 4 p.m. EST in New York, the dollar bought 1.4740 German marks, up from 1.4715 Wednesday. The dollar ended higher against the yen at 105.60, up from 105.42 Wednesday.

Exchange Currency in Dollars Dollar in foreign currency Canada .7333 1.3637 France .1987 5.0325 Germany .6784 1.4740 Great Britain 1.5182 .6587 Italy .000632 1582.25 Japan .009470 105.60 Mexico .134138 7.4550