Dollar Regains Some Momentum

Tue., Nov. 10, 1998

The dollar rose Monday, climbing to its highest levels in more than a month against the Japanese yen and German mark.

During trading, the dollar hit 122.20 yen, its highest seen since Oct. 8.

It was on Oct. 8 that U.S. stocks bottomed out after a scary slide. In a stunning recovery since then, the Dow Jones industrial average has climbed about 1,500 points.

Wall Street’s gains and the dollar’s drop came in part because of interest rate cuts by the Federal Reserve.

But traders are beginning to wonder if the Fed has stopped lowering rates for the time being.

Exchange Currency in Dollars Dollar in foreign currency Canada .6513 1.5355 France .1768 5.6573 Germany .5926 1.6874 Great Britain 1.6620 .6017 Italy .000599 1669.00 Japan .008226 121.57 Mexico .100200 9.9800

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Dollar Regains Some Momentum

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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