Dollar Falls in Early Trading in Asia
The U.S. dollar fell on Asian currency markets today in early trading after the United States and four other leading industrial nations announced plans to lower the dollar’s value, dealers said.
In erratic opening trading, which dealers said was thin because of the Tokyo market’s closure for a local holiday, the dollar lost ground against the West German mark, the British pound and the Japanese yen.
Dealers said the dollar opened at 2.7825 marks and then fluctuated between 2.7800 and 2.7950, compared to Friday’s New York closing rate of 2.8410. The U.S. currency dropped about 3 yen, fluctuating between 234.50 and 236.50, compared to New York’s 238.85 close.
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