Dollar Falls Vs. Mark, Yen

Wed., May 6, 1998

The dollar fell more than a 1-1/3 pfennig against the German mark Tuesday as European currencies continued to rally following the formal selection of 11 countries to participate in Europe’s planned single currency.

The dollar fell more than a 1.5 yen against the Japanese currency as traders noted that Treasury Secretary Robert Rubin, in an interview, failed to repeat his previous statements that the United States prefers a strong dollar.

Traders saw the advent of a monetary union as positive and were buying European currencies at the expense of the dollar.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6948 1.4393 France .1688 5.9225 Germany .5660 1.7669 Great Britain 1.6636 .6011 Italy .000573 1744.00 Japan .007608 131.44 Mexico .118064 8.4705

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Dollar Falls Vs. Mark, Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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