Dollar Gives Back Gains

Thu., May 30, 1996

Associated Press

The dollar ended a three-day rally Wednesday, plunging against the German mark and slipping against the Japanese yen as the British pound soared.

The pound’s strength came from a strong auction of long-term British bonds yielding 8.33 percent. The dollar was also weakened by a late-afternoon fall in U.S. stock and bond prices.

Many investors were looking to sell dollars after it reached a 17-month high Tuesday against the mark and expectations of higher British interest rates grew.

Exchange Currency in Dollars Dollar in foreign currency Canada .7284 1.3728 France .1924 5.1985 Germany .6510 1.5360 Great Britain 1.5305 .6534 Italy .000643 1554.70 Japan .009242 108.20 Mexico .134998 7.4075

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Dollar Gives Back Gains

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