Yen, Mark Weakness Boosts Dollar

Wed., Nov. 6, 1996

The dollar ended mostly higher Tuesday, deriving strength from diminished anxieties about the outcome of the U.S. elections as well as new signs of economic weakness in overseas.

Many currency traders had sold the dollar in advance of the vote, fearing the Democrats might retake control of Congress. The financial markets have generally viewed Democrats as less fiscally responsible than Republicans and more apt to increase the budget deficit, which is seen as inflationary.

Traders were encouraged by early indications that the Republicans would retain control of Congress.

Exchange Currency in Dollars Dollar in foreign currency Canada .7521 1.3296 France .1948 5.1341 Germany .6582 1.5192 Great Britain 1.6446 .6081 Italy .000657 1523.00 Japan .008760 114.15 Mexico .126422 7.9100

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Yen, Mark Weakness Boosts Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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