Why Washington Likes Its Dollar WeakBill Javetski
With the crumbling Soviet economy dominating their agenda, finance ministers from the seven largest industrialized nations won't have much time to worry about the slide of the U. S. dollar when they gather in Bangkok on Oct. 12. And inaction will suit Washington just fine. For in the runup to the annual meeting of the International Monetary Fund and World Bank, Treasury Dept. officials let it be known that they were glad enough to see the greenback slip from the highs it set last summer against the Japanese yen. The markets caught the signal and, by Oct. 4, had beaten the dollar to an eight-month low of 129 yen, down 9% since June 13.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.