Dollar Rises Vs. Yen, British Pound

Fri., Jan. 9, 1998

The dollar finished mostly higher Thursday, rising against the Japanese yen after a Federal Reserve official reportedly clarified comments that suggested the dollar has risen too fast.

The U.S. currency also jumped to more than a 3-month high vs. the British pound on rumors that Germany’s central bank was selling sterling for marks.

The dollar fell sharply in midafternoon trading after Federal Reserve Governor Lawrence Meyer was quoted in news reports as saying the dollar’s faster-than-expected rise was not in line with the U.S. economy.

But Meyer later emphasized he was not trying to send a message to traders with his comments, causing the dollar to rally.

Exchange Currency in Dollars Dollar in foreign currency

Canada .6988 1.4310

France .1641 6.0940

Germany .5489 1.8219

Great Britain 1.6132 .6199

Italy .000559 1789.50

Japan .007540 132.63

Mexico .123916 8.0700

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Dollar Rises Vs. Yen, British Pound

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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