Dollar Tracks Dow’S Movement

Thu., Aug. 6, 1998

The dollar fell against major currencies Wednesday as it followed the ups and downs of the Dow Jones industrial average.

“It’s almost point for point with the Dow for the dollar today,” said David Gilmore, a partner at Foreign Exchange Analytics in Essex, Conn., referring to the closely watched index that tracks 30 stocks on the New York Stock Exchange.

The yen also got a boost from comments by Japan’s new finance minister, Kiichi Miyazawa, that the government plans a deeper tax cut next year than one suggested by a tax panel.

Exchange Currency in Dollars Dollar in foreign currency Canada .6592 1.5171 France .1689 5.9220 Germany .5656 1.7680 Great Britain 1.6377 .6106 Italy .000572 1747.20 Japan .006951 143.86 Mexico .111025 9.0070

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Dollar Tracks Dow’S Movement

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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