Dollar Gains Ground On Yen

Wed., Sept. 23, 1998

The dollar rose against the yen Tuesday as Japanese officials continued squabbling over how to fix that country’s ailing banking system.

Japan’s dominant Liberal Democratic Party has been fighting with opposition lawmakers over how to proceed with critical banking reforms. The two sides reached a compromise Friday, but bickering since then over what exactly was agreed upon has led to fears that the pact could unravel.

Despite the political turmoil in Japan, currency traders held back from overselling the yen because Japanese Prime Minister Keizo Obuchi was in Washington Tuesday meeting with President Clinton.

Currency in Dollar in Exchange Dollars foreign currency

Canada .6542 1.5287 France .1771 5.6455 Germany .5944 1.6824 Great Britain 1.6849 .5935 Italy .000602 1662.00 Japan .007384 135.43 Mexico .098135 10.1900

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Dollar Gains Ground On Yen

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