Dollar Dips In Slow Trading

Tue., July 7, 1998

The dollar fell in listless trading Monday as traders waited for further word about possible Japanese tax cuts.

Japan’s leaders were backtracking Monday from earlier suggestions that new tax cuts were planned to help stimulate the company’s sagging economy. Financial markets around the world are looking to Japan to fix not only its own financial problems, but to help other Asian countries recover from their fiscal troubles.

The shift in statements from leaders including Prime Minister Ryutaro Hashimoto came a week before Japan’s July 12 parliamentary elections and added to the uncertainty about the country’s economic future.

Exchange Currency in Dollars Dollar in foreign currency Canada .6790 1.4728 France .1646 6.0755 Germany .5518 1.8124 Great Britain 1.6383 .6104 Italy .000560 1785.45 Japan .007135 140.15 Mexico .111445 8.9730

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Dollar Dips In Slow Trading

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