Dollar Hits 28-Month High Vs. Yen

Fri., June 7, 1996

Surprise interest rate cuts in Europe sent the dollar to a 28-month high against the Japanese yen Thursday.

The dollar fell against the German mark during light trading, with a religious holiday closing markets in Germany. Thin market conditions exaggerated currency transactions after England, France and Denmark astonished traders with rate cuts.

The dollar’s rise was blunted by remarks by U.S. financial and monetary officials deemed murky in terms of the direction of U.S. policy on interest rate changes.

Exchange Currency in Dollars Dollar in foreign currency Canada .7331 1.3640 France .1930 5.1825 Germany .6538 1.5296 Great Britain 1.5425 .6483 Italy .000647 1546.00 Japan .009157 109.21 Mexico .133869 7.4700

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Dollar Hits 28-Month High Vs. Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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