Rumors Push Dollar Down Vs. Mark, Yen

Sat., March 14, 1998

Associated Press

The dollar fell broadly Friday in a volatile session, marked by rumors about possible new allegations against President Clinton airing this weekend on television.

The dollar also fell against the Japanese yen because of a report that an extensive economic stimulus package was being prepared to aid Japan’s sickly economy.

Rumors swirling in the market included those about the illness of Russian President Boris Yeltsin and a radio report that the Greek drachma would be devalued by as much as 12 percent.

In late New York trading, the dollar was quoted at 128.15 yen, down from 129.32 yen late Thursday. The U.S. currency also was quoted at 1.8185 marks, down from 1.8272.

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