Rubin’s Comments Boost Dollar

The dollar overcame the uncertainties of an upcoming Group of Seven summit to end mostly higher Tuesday, helped by remarks from Treasury Secretary Robert Rubin and speculation about a U.S. air attack against Iraq.

Broad weakness in the German mark also helped strengthen the dollar. Traders sold marks on renewed optimism that Europe’s plan for a single currency in 1999 would proceed as scheduled.

The dollar closed near the higher end of its recent trading range and was broadly stronger for the first time in a week.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7444 1.3434 France .1799 5.5590 Germany .6076 1.6457 Great Britain 1.6207 .6170 Italy .000617 1620.50 Japan .008167 122.44 Mexico .127934 7.8160