Rate Speculation Pushes Dollar

Tue., May 20, 1997

The dollar overcame a selloff from Japan’s bulging trade surplus Monday, closing higher against the yen for the first time in more than two weeks and gaining in most other dealings on expectations of higher U.S. interest rates.

The advance came a day before the Federal Reserve’s policymaking committee was meeting against a backdrop of conflicting indications on whether it will decide higher rates are required to suppress inflationary pressure in the economy.

Traders bought dollars on the assumption that an increase of 25 basis points, or a quarter percentage point, was possible in the target for the federal funds rate, an important benchmark rate.

Exchange Currency in dollars Dollar in foreign currency Canada .7291 1.3715 France .1737 5.7565 Germany .5854 1.7083 Great Britain 1.6393 .6100 Italy .000597 1675.00 Japan .008645 115.68 Mexico .126791 7.8870

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.

Rate Speculation Pushes Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

With fears of hantavirus outbreak, here's the real pandemic risk

These therapy mini horses play the piano for hospital patients

ABC challenges FCC, escalating fight over free speech