Dollar Lower Despite Rebound

Tue., March 12, 1996

The dollar failed to take advantage of rebounding U.S. stock and bond markets Monday, drifting lower as a strengthening German economy changed the possibility of an interest rate cut there.

The dollar fell in light trading against the German mark and the Japanese yen as investors questioned their assumptions about the dollar’s prospects.

A German report Monday showed industrial production rising there and that helped reverse thoughts of any imminent reduction of German rates.

Currency Dollar in Exchange in Dollars foreign currency Canada .7322 1.3657 France .1972 5.0715 Germany .6754 1.4807 Great Britain 1.5241 .6561 Italy .000641 1561.00 Japan .009487 105.41 Mexico .131752 7.5900

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Dollar Lower Despite Rebound

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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