The dollar gained ground on the foreign exchange markets yesterday after President Bill Clinton adamantly denied allegations that he had an affair with Monica Lewinsky, the former White House intern. The greenback stood at 1.7945 German marks after his televised address to the nation, more than four pfennings up from an overnight low of DM1.7525. The dollar also gained against sterling, which fell to $1.6580 from $1.6662, as expectations of a UK interest rate rise next month subsided.
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Clinton denial boosts dollar