Dollar Continues Losing Ground

Wed., Sept. 2, 1998

The dollar followed the stock market lower early Tuesday but failed to march back higher in the afternoon along with a rise in the Dow Jones industrials.

The dollar fell against the Japanese yen, German mark and other major currencies as the Mexican peso dropped to another record low in New York. Mexican markets were closed for a bank holiday.

Foreign exchange traders took their initial lead from stocks Tuesday. The Dow Jones industrial average at first rose 143.41 points early Tuesday, then ran up a loss of 138.77 points before rising later.

Exchange Currency in Dollars Dollar in foreign currency Canada .6387 1.5658 France .1705 5.8654 Germany .5717 1.7493 Great Britain 1.6773 .5962 Italy .000576 1737.20 Japan .007181 139.25 Mexico .099502 10.0500

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Dollar Continues Losing Ground

Jesse Tinsley

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Molly Quinn

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