Dollar Gains Ground On Yen, Mark

The dollar hit a new 4-1/2-year high against the yen and a three-year high vs. the mark Wednesday, propelled by the allure of rising U.S. interest rates and lack of central bank concern over the dollar’s strength.

It was the dollar’s fourth straight day of solid gains and the sheer momentum emboldened more traders to push the dollar higher.

“You’ve got interest rate differentials working in the dollar’s favor pretty much around the world,” said Ron Hudson, vice president of corporate sales at Royal Bank of Scotland in New York.

Exchange Currency in Dollars Dollar in foreign currency Canada .7195 1.3898 France .1724 5.8020 Germany .5799 1.7245 Great Britain 1.6194 .6175 Italy .000588 1700.00 Japan .007888 126.77 Mexico .126936 7.8780