Dollar Falls Against Yen

Tue., July 21, 1998

The dollar on Monday fell against the Japanese yen in cautious trading ahead of Federal Reserve Chairman Alan Greenspan’s congressional testimony and the upcoming election of a new Japanese prime minister.

The dollar’s fall against the yen came as Japanese markets were closed because of a national holiday.

Traders in Europe and North America were wary ahead of Greenspan’s congressional testimony about the economy today and Wednesday.

Also, traders were waiting for Friday’s selection of a new president of Japan’s ruling Labor Democratic Party.

Exchange Currency in Dollars Dollar in foreign currency Canada .6719 1.4883 France .1673 5.9760 Germany .5612 1.7818 Great Britain 1.6447 .6080 Italy .000569 1758.50 Japan .007200 138.88 Mexico .114025 8.7700

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Dollar Falls Against Yen

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