Sunday 10 May 1998
The dollar fell 0.72 per cent against the mark last week and declined to 132.77 yen, leaving it down 0.50 per cent against the yen for the week. The dollar could rise to 1.80 marks in coming weeks, said JD Jensen, president of Jensen & Co, a money management firm. Still, he expects the mark to strengthen later in the year.
Other Bundesbank officials also suggested they aren't rushing to raise the benchmark securities repurchase rate, now at 3.30 per cent. Otmar Issing, the central bank's chief economist, said the European Central bank wouldn't sacrifice "growth or employment" for price stability.
"German officials have been trying to say there's no reason to raise rates immediately," said John McCarthy, manager of foreign exchange at ING Baring Capital Markets. "The market finally got the message."
Still, traders expect the dollar to decline against the mark in coming months as European countries recover from a prolonged slowdown. Germany is also likely to raise its short-term lending rates, which will boost the mark.
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Greece debt crisis explained: A history of just how the country landed itself in such a mess
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Greek debt crisis: Yanis Varoufakis's funniest (and most memorable) quotes
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
Greece debt crisis explained: A history of just how the country landed itself in such a mess
German conservatives are destroying Europe with austerity, says economist Thomas Piketty
Man dies instantly after shooting firework from top of his head
Isis schoolgirl Amira Abase who fled London to join terrorists in Syria mocks victims of Tunisia massacre
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
iJobs Money & Business
competitive: SThree: Are you passionate about sales?Do you have a keen interes...
£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...