Dollar Gains Ground On Yen

Thu., Nov. 28, 1996

The dollar reached a three-week high against the yen Wednesday on news of economic weakness in Japan and increased Japanese investing abroad, but it ended mostly lower in other currency dealings.

Traders said strength in the British pound and broad yen weakness vs. other currencies indirectly suppressed the dollar. Trader reluctance to take speculative positions going into the four-day Thanksgiving weekend also contributed to the dollar’s mixed showing.

As of 4 p.m. in New York, the dollar cost 113.33 yen, up from 112.47 yen Tuesday and the first close above 113 yen since Nov. 6.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7428 1.3463 France .1935 5.1690 Germany .6550 1.5268 Great Britain 1.6781 .5959 Italy .000661 1512.10 Japan .008826 113.30 Mexico .126855 7.8830

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Dollar Gains Ground On Yen

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