Economic Reports Bolster Dollar

Wed., May 28, 1997

The dollar rose broadly Tuesday on a mix of healthy U.S. economic data, heightened prospects for a weak single European currency and remarks by Switzerland’s top banker that caused a sell-off in the Swiss franc.

Traders who had bet on dollar weakness over the 3-day Memorial Day weekend also contributed to the currency’s strength by purchasing dollars to limit their losses.

The buying pushed the dollar to the highest level against the mark in more than a week and the highest against the yen in nearly two weeks.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7225 1.3840 France .1735 5.7635 Germany .5863 1.7055 Great Britain 1.6316 .6129 Italy .000595 1680.00 Japan .008570 116.68 Mexico .126614 7.8980

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Economic Reports Bolster Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

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