Dollar Drops Vs. Pound

Fri., Nov. 7, 1997

The dollar tumbled to a nearly four-month low against the pound Thursday after a surprising rise in British interest rates, but was higher vs. the mark after Germany’s central bank left rates unchanged.

The dollar ended flat against the yen as traders worried that U.S.-Japanese trade tensions could flare if the U.S. currency continues to rise against its Japanese counterpart. After the Bank of England raised interest rates for the fifth time since May, startled currency traders bought sterling against a range of currencies, pushing the pound to a five-year high against the yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .7156 1.3975 France .1733 5.7715 Germany .5802 1.7234 Great Britain 1.6895 .5919 Italy .000592 1688.00 Japan .008128 123.03 Mexico .121359 8.2400

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Dollar Drops Vs. Pound

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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