Fears Hold Back Dollar Against Yen

Tue., April 21, 1998

The dollar was mixed against other major currencies Monday, posting slight gains vs. the yen that were limited by fears of Japan’s central bank entering the market to support its currency.

The U.S. currency slipped against the German mark amid wrangling over who will lead the future European Central Bank.

Traders sought dollars vs. yen while awaiting Friday’s expected release of further details about Japan’s latest economic stimulus plan, which was unveiled earlier this month. But the dollar’s gains were limited by concern that the Bank of Japan might intervene in the market to sell dollars for yen.

Currency in Dollar in Exchange Dollars foreign currency

Canada .7007 1.4271 France .1656 6.0390 Germany .5532 1.8012 Great Britain 1.6716 .5982 Italy .000561 1781.30 Japan .007567 131.15 Mexico .118120 8.4660

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Fears Hold Back Dollar Against Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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