Dollar Gains Ground On Yen

Thu., Nov. 13, 1997

The dollar on Wednesday surged past 126 yen for the first time in more than six months on concerns that the Japanese economy isn’t recovering from its lengthy slump.

The U.S currency also rose against the German mark, supported by the strength of the U.S. economy compared with Germany’s economic conditions. But that rise was tempered by speculation that Germany may raise interest rates before the United States.

“People are becoming more concerned with the state of the Japanese financial system,” said David Glimore, a partner at Foreign Exchange Analytics in Essex, Conn. “There are some serious questions about whether Japan can recover.”

Exchange Currency in Dollars Dollar in foreign currency Canada .7103 1.4079 France .1737 5.7564 Germany .5820 1.7183 Great Britain 1.7033 .5871 Italy .000594 1682.00 Japan .007916 126.32 Mexico .119190 8.3900

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Dollar Gains Ground On Yen

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