Dollar Regains Ground On Yen

Sat., Feb. 14, 1998

Associated Press

The dollar gained against the Japanese yen and other major currencies Friday as investors found new reasons to take a dim view of Japan’s ability to cure its economic ills.

The dollar regained momentum Thursday against the yen after investors had spent weeks gleefully expecting Japanese officials to mount a credible fight to revive their sagging economy. Market rumors and comments by U.S. Treasury officials Thursday dampened expectations that investors will like the stimulus package Japan unveils Feb. 20.

In late New York trading, the dollar rose to 125.20 Japanese yen from 124.53 yen late Thursday. The dollar also was changing hands in New York at 1.8190 German marks, up from 1.8083.

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