Dollar Hits Four-Week High Vs. Mark

Fri., March 6, 1998

The dollar hit a one-month high against the mark in a broad rally after a German central banker said a reduction in German interest rates might be considered at a time traders were expecting the Bundesbank’s next move would be to raise rates.

The gains against the mark also lifted the dollar against most other major currencies, including the Japanese yen.

“The big mover was dollar-mark (trading) … That’s basically triggered this dollar rally,” said Frank Conte, vice president for foreign exchange sales at the Royal Bank of Canada branch in New York.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7015 1.4256

France .1627 6.1460

Germany .5454 1.8335

Great Britain 1.6324 .6126

Italy .000555 1801.00

Japan .007825 127.80

Mexico .115942 8.6250

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Dollar Hits Four-Week High Vs. Mark

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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