Dollar Gains Ground Against Yen

Thu., Nov. 14, 1996

The dollar rallied against the yen and steadied vs. the mark Wednesday after a top Treasury official reaffirmed the U.S. commitment to a strong currency for the first time since the Nov. 5 elections.

But the dollar ended mixed against other currencies and briefly touched a four-year low vs. the pound, which surged on data pointing to a stronger British economy and the likelihood of higher interest rates.

“The story today really was sterling,” said Ben Strauss, a trader at the New York offices of Bank Julius Baer & Co. “The British economy is very strong right now.”

Exchange Currency in Dollars Dollar in foreign currency

Canada .7499 1.3335

France .1963 5.0930

Germany .6633 1.5075

Great Britain 1.6525 .6051

Italy .000660 1515.00

Japan .008945 111.79

Mexico .126486 7.9060

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Dollar Gains Ground Against Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

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