Japanese Policy Issue Hurts Dollar

Tue., Nov. 12, 1996

The dollar fell to a one-month low against the Japanese yen before recovering Monday on lingering fears that Japan may be changing its foreign-exchange policy to stop the yen from weakening further.

The U.S. currency also slipped against the German mark, as European Union finance ministers wrestled with the details of launching a single European currency by 1999.

Trading was light Monday because of the Veteran’s Day holiday in the United States.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7498 1.3337

France .1980 5.0515

Germany .6696 1.4935

Great Britain 1.6464 .6074

Italy .000663 1508.50

Japan .008969 111.50

Mexico .126743 7.8900

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Japanese Policy Issue Hurts Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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