Bundesbank Inaction Boosts Buck

Wed., Aug. 13, 1997

The dollar ended higher in most currency dealings Tuesday after the Bundesbank left interest rates unchanged, but the gains faded ahead of important data on inflationary pressure in the U.S. economy.

A late sell-off in U.S. stock and bond prices also diminished the appetite for dollars.

There had been resilient speculation that the Bundesbank might nudge rates higher to defend the mark, which fell to a series of 8-year lows vs. the dollar earlier this month before partly rebounding late last week.

Exchange Currency in Dollars Dollar in foreign currency Canada .7178 1.3931 France .1592 6.2809 Germany .5363 1.8645 Great Britain 1.5779 .6338 Italy .000550 1817.00 Japan .008589 116.43 Mexico .128535 7.7800

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Bundesbank Inaction Boosts Buck

Jesse Tinsley

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