Dollar Rises Against Yen, Mark

Wed., Aug. 26, 1998

The dollar rose against the yen Tuesday after Japan’s top finance official said the government was unlikely to intervene during the day’s trading in foreign exchange markets to support the currency.

The dollar also rose against the German mark after Russia revealed its debt restructuring plan. The Canadian dollar slipped, following its 1998 pattern of falling to yet another historic low. The Russian ruble had its biggest one-day plunge in four years.

Traders sent the dollar above 145 yen after Finance Minister Kiichi Miyazawa said at a news conference that the government would likely intervene if yen trading was disrupting financial markets - but “I don’t think that is happening today.”

Currency in Dollar in Exchange Dollars foreign currency

Canada .6452 1.5498 France .1658 6.0325 Germany .5557 1.7994 Great Britain 1.6380 .6105 Italy .000564 1773.00 Japan .006934 144.21 Mexico .104167 9.6000

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Dollar Rises Against Yen, Mark

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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