Dollar Hits 3-Month Low Vs. Mark

Wed., Oct. 8, 1997

The dollar fell to a three-month intraday low against the mark Tuesday as traders felt Europe’s planned common currency would be stronger because Italy’s budget crisis threatened its participation.

The dollar recouped some losses but ended down against the mark as traders sought bargains at the low levels. The late rally awakened quiet trading against the yen, boosting the dollar vs. the Japanese currency.

“If Italy’s not in the euro, it produces a strong euro. Dollar-mark (trading) parallels the euro,” said Jeremy Fand, foreign-exchange strategist at Bank of Boston.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7283 1.3730 France .1694 5.9025 Germany .5691 1.7571 Great Britain 1.6176 .6182 Italy .000580 1725.50 Japan .008159 122.56 Mexico .129282 7.7350

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Dollar Hits 3-Month Low Vs. Mark

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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