Dollar Gains Vs. Mark, Yen

Fri., Sept. 20, 1996

The dollar ended higher against the German mark and Japanese yen Thursday, bolstered by more strong U.S. economic data that renewed talk of higher interest rates.

The dollar also benefited indirectly from the mark’s weakness against other currencies. The German currency lost value Thursday as France got closer to meeting strict standards for joining a single European currency in 1999. Doubts about the likelihood of a European currency had lifted the mark.

But the biggest boost for the dollar was the release of U.S. data showing stronger-than-expected housing starts and shrinking claims for jobless benefits. Analysts argued this increased the chances that the Federal Reserve will raise interest rates next Tuesday to halt inflation.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7297 1.3704

France .1941 5.1511

Germany .6609 1.5132

Great Britain 1.5520 .6443

Italy .000657 1523.00

Japan .009141 109.40

Mexico .132979 7.5200

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Dollar Gains Vs. Mark, Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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