Dollar Gains Ground Vs. Mark

Fri., June 27, 1997

The dollar rose against the German mark Thursday after a Bundesbank official suggested interest rates could fall, but it weakened against the Japanese yen on prospects for a rate increase.

Also on the interest-rate front, the Canadian dollar surged against the greenback on an unexpected Bank of Canada rate hike.

The day’s main focus fell on Germany, following the suggestion that rates could come down to help the nation’s soft economy. Deutsche Bundesbank Council member Reimut Jochimsen said he didn’t rule out an interest rate reduction.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7256 1.3781 France .1717 5.8230 Germany .5795 1.7256 Great Britain 1.6653 .6005 Italy .000592 1687.80 Japan .008870 113.15 Mexico .125849 7.9460

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Dollar Gains Ground Vs. Mark

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