Dollar Soars Against Yen

Thu., Sept. 10, 1998

The dollar surged against the yen Wednesday as Japanese authorities cut historically low interest rates to help rejuvenate that country’s ailing economy.

Japan is in an ever-widening financial crisis, its deepest recession since the end of World War II.

Although the interest rate cut also helped the dollar against the German mark, the dollar couldn’t sustain its gains and fell against major European currencies. The dollar dipped to nearly a 10-month low against the German mark.

The Mexican peso fell to yet another all-time low.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6564 1.5234 France .1732 5.7730 Germany .5809 1.7215 Great Britain 1.6672 .5998 Italy .000589 1699.00 Japan .007299 137.00 Mexico .096899 10.3200

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Dollar Soars Against Yen

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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