Dollar’S Rebound Nearly Complete

Fri., June 26, 1998

The dollar Thursday recouped nearly all the losses it posted against the yen last week when the U.S. and Japanese central banks intervened in foreign exchange markets to bolster the Japanese currency.

The dollar slid against the German mark while the market’s attention was focused on dollar-yen trading.

In late New York trading, the dollar was quoted at 142.30 yen, up from 141.25 late Wednesday and from 136.37 on June 17 after the Federal Reserve and the Bank of Japan teamed up to sell dollars and bolster the yen.

Exchange Currency in Dollars Dollar in foreign currency

Canada .6818 1.4667

France .1659 6.0260

Germany .5558 1.7992

Great Britain 1.6714 .5983

Italy .000564 1772.00

Japan .007027 142.30

Mexico .111669 8.9550

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Dollar’S Rebound Nearly Complete

Jesse Tinsley

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