Dollar Loses Ground To Yen

Fri., Nov. 21, 1997

The dollar fell against the Japanese yen but rose vs. the German mark Thursday as traders sought to lock in profits from the yen’s recent weakness and cheered news that Japan may use public funds to help troubled banks.

Traders sold marks for yen to pocket gains from the German currency’s 4 percent rise against its Japanese counterpart in the past two weeks. The dollar also was sold vs. the yen.

“We have traveled quite a long way in the last week or two … and possibly a little too rich,” said Lee Kassler, vice president at Israel Discount Bank in New York.

Exchange Currency in Dollars Dollar in foreign currency Canada .7053 1.4178 France .1716 5.8285 Germany .5743 1.7413 Great Britain 1.6880 .5924 Italy .000586 1707.00 Japan .007922 126.23 Mexico .120992 8.2650

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Dollar Loses Ground To Yen

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