Dollar Slides In Profit Taking

Wed., June 26, 1996

The dollar fell to profit taking during sluggish, thin trading after rising earlier when the Italian lira reached a nearly two-year high against the German mark.

The lira’s rise snuffed the mark in foreign exchange markets, allowing the dollar to take advantage of both the mark and Japanese yen during European trading.

But by 8 a.m. in late European trading, the dollar started sliding against the mark, and then the yen, as traders took profits. The dollar ended unchanged against the yen and lower against the mark.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7361 1.3585

France .1931 5.1775

Germany .6539 1.5292

Great Britain 1.5393 .6496

Italy .000651 1535.50

Japan .009179 108.95

Mexico .131944 7.5790

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Dollar Slides In Profit Taking

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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