Dollar Mixed As Stocks Drop

Fri., Jan. 15, 1999

The dollar was mixed against other major currencies Thursday as worries about Brazil’s faltering economy sent U.S. stocks plunging.

The U.S. currency fell against the euro, the new single currency of 11 European nations, in reaction to the drop on Wall Street, where investors worried that the turmoil in Brazil would spread throughout Latin America. Stocks were also hurt by worries about U.S. corporate profits after Eastman Kodak reported fourth-quarter results well below analysts’ expectations.

The dollar rose slightly against the yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .6522 1.5333 Euro 1.17100 .8540 France .1785 5.6022 Germany .5987 1.6703 Great Britain 1.6567 .6036 Italy .000605 1652.89 Japan .008802 113.61 Mexico .093985 10.6400

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Dollar Mixed As Stocks Drop

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