Dollar Rises On Thin Trading

Tue., Oct. 13, 1998

The dollar reversed its skid from last week, rising against major currencies Monday on the back of ascending U.S. and European stocks.

But the dollar came nowhere near regaining the level against the Japanese yen from which it fell last week.

“It ended up being a very quiet day but a very thin market” because of the Columbus Day holiday, said Elizabeth Bussanich, a currency adviser at the Bank of Montreal.

Last week, the dollar endured its worst declines against the Japanese yen in a quarter century, falling nearly 14 percent for the week as a whole as hedge funds dumped dollars to unwind complex trades.

Exchange Currency in Dollars Dollar in foreign currency Canada .6491 1.5405 France .1805 5.5405 Germany .6050 1.6530 Great Britain 1.6895 .5919 Italy .000611 1637.00 Japan .008467 118.10 Mexico .098619 10.1400

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Dollar Rises On Thin Trading

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