German Strength Hampers Dollar
Tue., Feb. 25, 1997
The dollar fell sharply Monday, hurt by hints of a stronger German economy, fresh doubts about Europe’s single currency plan and news that a big Japanese company was converting all its foreign-exchange holdings to yen.
The retreat pulled the dollar back to its lowest level against the yen since the Group of Seven industrialized powers said Feb. 8 that the U.S. currency’s two-year recovery from postwar lows was complete.
Exchange Currency in Dollars Dollar in foreign currency Canada .7338 1.3628 France .1774 5.6385 Germany .5977 1.6732 Great Britain 1.6359 .6113 Italy .000602 1660.00 Japan .008185 122.18 Mexico .129132 7.7440
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