Dollar Hits 5-1/2-Year High Vs. Yen

Tue., Dec. 2, 1997

The dollar leaped to a 5-1/2-year high against the Japanese yen and rose vs. the German mark Monday as comments from Japan’s prime minister suggested more bad news will emerge from the country’s beleaguered financial sector.

The dollar also was aided by a rally in U.S. stocks that was spurred by a report on factory activity showing the U.S. economy is growing steadily. Wall Street also was cheered by a rebound in some of Asia’s battered stock markets.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7028 1.4229

France .1681 5.9475

Germany .5627 1.7771

Great Britain 1.6846 .5936

Italy .000574 1741.00

Japan .007757 128.91

Mexico .122474 8.1650

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Dollar Hits 5-1/2-Year High Vs. Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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