Dollar Falls Against Yen

Wed., July 1, 1998

The dollar fell more than 2-1/2 yen against the Japanese currency Tuesday as traders were encouraged by a report Japan’s unemployment rate didn’t worsen in May and talk of permanent tax cuts to help repair that country’s economy.

The dollar’s fall against the mark was slowed by traders selling marks to buy yen.

Despite the dollar’s fall as the first half of the year ended Tuesday, the U.S. currency remains higher against both currencies compared with its 1997 year-end rates of 130.42 yen and 1.7987 marks.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6803 1.4700 France .1650 6.0595 Germany .5531 1.8080 Great Britain 1.6667 .6000 Italy .000563 1776.99 Japan .007186 139.16 Mexico .111607 8.9600

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Dollar Falls Against Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

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