Dollar Climbs Against Yen

Fri., Jan. 23, 1998

The dollar rose against the Japanese yen Thursday amid increased scrutiny about economic troubles in Japan and throughout Asia. Those same concerns boosted major European currencies, forcing the dollar downward in a market skittish over the eruption of a White House scandal.

“The key story is the rebound of the European currencies against the Japanese yen and the yen’s somewhat defensive trade against the dollar,” said Lisa Finstrom, senior currency analyst at Salomon Smith Barney Inc.

The yen has strengthened since Jan. 6 as markets became more confident that Japanese officials were moving to revive the economy. However, doubts remain about the resolve to fully carry out reforms.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6923 1.4445 France .1655 6.0415 Germany .5542 1.8045 Great Britain 1.6485 .6066 Italy .000563 1777.10 Japan .007860 127.23 Mexico .120890 8.2720

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Dollar Climbs Against Yen

Jesse Tinsley

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