Dollar Weakens Against Yen

Thu., July 18, 1996

The dollar failed to regain much lost ground Wednesday despite a relatively stable day on Wall Street, rising a bit in Europe but eroding further against the yen on talk of higher interest rates in Japan.

Many foreign exchange traders were reluctant to buy or sell the dollar until they could get a further feel for the prognosis of the U.S. stock market.

“I think everyone is just sort of sitting back and licking their wounds,” said Roger Chapin, foreign exchange manager at Bank One Columbus, a major regional bank in Columbus, Ohio.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7333 1.3619

France .1987 5.0325

Germany .6731 1.4857

Great Britain 1.5455 .6470

Italy .000658 1520.00

Japan .009201 108.68

Mexico .131199 7.6220

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Dollar Weakens Against Yen

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