Dollar Mixed In Foreign Markets

Fri., Dec. 4, 1998

The dollar rose against most major currencies following a surprise cut in interest rates by the 11 nations launching a common European currency on Jan. 1.

However, foreign exchange traders focused mainly on falling U.S. and Brazilian stocks, which dampened the dollar’s rise and allowed it to fall against the Japanese yen.

The 11 nations joining in the common currency startled traders with their surprise rate cuts, needed to bring their rates in line for the launch of the euro.

Exchange Currency in Dollars Dollar in foreign currency Canada .6502 1.5381 France .1785 5.6025 Germany .5984 1.6712 Great Britain 1.6647 .6007 Italy .000604 1655.50 Japan .008432 118.60 Mexico .100050 9.9950

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Dollar Mixed In Foreign Markets

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