Dollar Continues Fall Against Yen

Sat., Oct. 11, 1997

Associated Press

The dollar fell to a seven-week low against the yen Friday but rose vs. the mark. Traders were worried about U.S.-Japanese trade tension and took profits from the German currency’s recent rise against its Japanese counterpart.

The dollar fell steadily against the yen after U.S. officials expressed dismay late Thursday over Japan’s lack of progress in boosting sales of American-made cars and parts.

“They keep beating this trade drum,” said Margaret Kudarauskas, senior foreign-exchange analyst at Technical Data in Boston. “They figure maybe they can keep dollar-yen from going up. It’s working.”

The dollar’s strength against the yen is often a sore spot in trade relations, frustrating American exporters whose goods are made more expensive overseas.

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