Dollar Falls Against Yen, Mark

Sat., Feb. 28, 1998

Associated Press

The dollar fell sharply against the Japanese yen for the second consecutive day as reports continued to surface that the government was creating a fiscal stimulus package strong enough to revive Japan’s ailing economy.

The dollar fell against the German mark in sympathy with the yen move, but ended the day only slightly lower than Thursday’s close.

Investors pushed the dollar down against the yen the entire day, as they kept the faith the Japanese were serious about a stimulus package.

In late New York trading Thursday, the dollar settled at 126.10 yen, down from 127.18 late Thursday. The dollar was quoted at 1.8148 marks, down from 1.8150.

The British pound was quoted at $1.6453, up from $1.6439.

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