P.M. BRIEFING : Dollar Rises Against Mark, Yen
The dollar rose sharply today, hitting the latest in a series of eight-month highs on signs that the powerful Group of Seven nations will tolerate a stronger U.S. currency.
At one point, the dollar touched 1.9185 West German marks before finishing in London at 1.9165 marks, compared to 1.9070 marks on Monday. It also rose to 134.85 Japanese yen from 134.80.
The dollar gained some support when West German Finance Minister Theo Waigel said the mark’s current weakness was no cause for concerted international action. He said the dollar remained in the range covered in previous international agreements by the Group of Seven: West Germany, Japan, the United States, France, Britain, Canada and Italy.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
