Dollar Turns In Mixed Results

Wed., March 25, 1998

The dollar ended mixed against most major world currencies Tuesday, as traders awaited details of plans to revive Japan’s economy and to unite Europe’s currencies.

In late New York trading, the dollar was quoted at 130.28 yen, down from 130.47 late Monday. It also was changing hands at 1.8278 German marks, up from 1.8256.

Jay Bryson, an international economist at First Union National Bank in Charlotte, N.C., said traders have “a pretty good indication” of the contents of Japan’s stimulus plan, tentatively scheduled for release Thursday. It will probably include massive public-works spending but not a big income-tax cut, which some have argued is necessary to life Japan out of its economic slump, Bryson said.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7058 1.4168

France .1633 6.1255

Germany .5471 1.8278

Great Britain 1.6753 .5969

Italy .000556 1799.60

Japan .007676 130.28

Mexico .117178 8.5340

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Dollar Turns In Mixed Results

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