Dollar Loses Ground Vs. Yen

Fri., June 6, 1997

The dollar fell against the yen Thursday on hints that Japan’s economy is strengthening, but the U.S. currency ended fairly steady in most other foreign-exchange dealings.

There was relatively little movement in the currency market pending the release of the Labor Department’s jobless data today, which could provide important insights into whether the Federal Reserve is apt to raise interest rates at its next policy-making meeting July 1-2.

“The dollar is still on very firm footing,” said Stephen Flanagan, vice president of foreign exchange at Credit Agricole Indosuez in New York.

Exchange Currency in Dollars Dollar in foreign currency Canada .7264 1.3766 France .1715 5.8300 Germany .5784 1.7288 Great Britain 1.6351 .6116 Italy .000588 1700.70 Japan .008642 115.72 Mexico .125644 7.9590

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Dollar Loses Ground Vs. Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

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