Dollar Hits 4-Year Low Vs. Pound

Wed., Jan. 1, 1997

The dollar’s year-end rally faltered Tuesday on profit-taking, an unexpected retreat in the bond market and a surge in demand for the British pound, which hit a four-year high against the U.S. currency.

But traders said the thin market exaggerated price movements and the forces that pushed the dollar higher in 1996 remain firmly in place.

Japan’s market is closed until Jan. 6 and many traders in Europe and the United States quit early.

Exchange Currency in Dollars Dollar in foreign currency Canada .7297 1.3705 France .1929 5.1845 Germany .6487 1.5515 Great Britain 1.7125 .5839 Italy .000659 1518.00 Japan .008626 115.93 Mexico .126823 7.8850

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Dollar Hits 4-Year Low Vs. Pound

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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