Dollar Loses Ground Against Mark

Wed., Feb. 19, 1997

The dollar hit a three-year high against the mark Tuesday before falling to end mixed, hurt by a rally in the German currency over new doubts about the 1999 timetable for European monetary union.

But currency traders returning from a three-day weekend in the United States said demand for the dollar remained strong and the underlying economic forces pushing the U.S. currency higher were still well in place.

“Generally, we’re still bullish on the dollar,” said Renato Strauss, vice president of foreign-exchange trading at Bank Julius Baer & Co. in New York.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7376 1.3558

France .1759 5.6839

Germany .5939 1.6839

Great Britain 1.6084 .6217

Italy .000595 1680.50

Japan .008072 123.88

Mexico .128337 7.7920

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Dollar Loses Ground Against Mark

Jesse Tinsley

Jim Meehan

Molly Quinn

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