Dollar Weakens Ahead Of Summit

Tue., June 17, 1997

The dollar ended mostly lower Monday, weakened by demand for yen ahead of the Group of Seven summit this weekend and signs that Europe’s planned single currency may be stronger than anticipated.

The retreat stopped a two-day rise in the dollar after a six-day decline.

Despite a lack of news to influence the dollar’s value against the yen, orders for the Japanese currency increased because of anxiety that Japan’s trade surplus will be a sensitive discussion topic at the G-7 meeting in Denver.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7212 1.3866

France .1712 5.8400

Germany .5774 1.7320

Great Britain 1.6375 .6107

Italy .000589 1698.75

Japan .008809 113.52

Mexico .125834 7.9470

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Dollar Weakens Ahead Of Summit

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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