Interest Rate Talk Hurts Dollar

Wed., Sept. 9, 1998

The dollar fell Tuesday against most major currencies as the U.S. currency seemed poised to weaken amid speculation the Federal Reserve will lower interest rates.

The dollar slipped to a four-month low against the Japanese yen and a nearly 10-month low against the German mark. The Mexican peso fell to another historic low against the dollar.

In late New York trading, the dollar dropped to 132.10 yen, down from 133.57 yen late Friday; U.S. markets were closed Monday for Labor Day. During trading, the dollar fell as low as 131.20 yen, a level not seen since late April.

Exchange Currency in Dollars Dollar in foreign currency

Canada .6571 1.5218

France .1726 5.7950

Germany .5785 1.7285

Great Britain 1.6548 .6043

Italy .000586 1706.35

Japan .007570 132.10

Mexico .097656 10.2400

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Interest Rate Talk Hurts Dollar

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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