Narrow Trade Gap Boosts Dollar

Fri., July 18, 1997

The dollar rose against the Japanese yen Thursday after Japan said its trade surplus did not widen in June as much as traders had feared.

The dollar also ended higher against the German mark and Swiss franc after a senior Bundesbank official signaled that the central bank isn’t overly concerned about the U.S. currency’s recent ascent to 6-year highs against the mark.

The dollar rose to an intraday high of 116.28 yen on news that Japan’s unadjusted trade surplus grew to 934.21 billion yen in June, well below economists’ expectations.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7261 1.3773 France .1652 6.0550 Germany .5574 1.7941 Great Britain 1.6722 .5980 Italy .000573 1744.50 Japan .008615 116.07 Mexico .127226 7.8600

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Narrow Trade Gap Boosts Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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