Dollar Rebounds Against Yen

The dollar rose sharply Wednesday after a Bank of Japan survey suggested interest rates there will remain low and Treasury Secretary Robert Rubin eased concerns about growing U.S.-Japanese trade friction.

The rebound erased most of the dollar’s losses from the day before, when the currency hit a three-week low vs. the yen, a six-week low vs. the mark and a 10-week low vs. the pound.

“This was a case of sell the rumor and buy the fact,” said Vicki Schmelzer Alicea, vice president of corporate states at Westdeutsche Landes Bank in New York.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7215 1.3860

France .1772 5.6430

Germany .5965 1.6765

Great Britain 1.6431 .6086

Italy .000602 1660.00

Japan .008114 123.25

Mexico .126247 7.9210