Word: dollar
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...first burst of cheering over Jimmy Carter's save-the-dollar program, some football-fan bankers compared the President to a quarterback who had thrown a spectacular pass from his own 1-yd. line for a touchdown. Last week it became evident that the quick score only got the Carter Comets back into a game that had been turning into a rout. To win, Carter must now call signals effectively for a long, grind-it-out-on-the-ground drive against the awesome defense of the Inflation Bears...
Overseas the dollar came under selling pressure again last week and gave up some of the gains it had made early in the rescue program. The selling came primarily from exporters in various countries who played what New York Money Trader Claude Tygier called "a cat-and-mouse game" with central banks. Having acquired dollars by selling their products, the exporters sold some of those greenbacks in order to test whether the government bankers really were determined to support the price...
...Federal Reserve Board and the central banks of Germany, Switzerland and Japan did in fact buy up enough dollars to hold the price well above the lows established in the pre-Halloween panic. But it was clear that the dollar has not yet developed any upward momentum of its own, and will not until Carter can convince the hard-bitten cynics of the exchange markets that the U.S. is prepared to follow a tough anti-inflation policy as long as may be necessary. Said Walter Seipp, vice president of the Westdeutsche Landesbank in Düsseldorf: "Everything depends on whether...
...dividend cut shocked Wall Street traders, who apparently saw it as a harbinger of many more to come. Stock prices, which had registered their sharpest one-day run-up ever (35 points) during the initial euphoria over the dollar-rescue program, fell back heavily; last Tuesday the Dow Jones industrial average tumbled 14.81 points. At week's end it was moving in a narrow range just above 800, but nobody could be sure it would hold there. Some brokers fear that a combination of high interest rates and the threat (or fact) of recession could push the average down...
...specialty is in demand these days because the dollar is under intensive care, and everybody asks her how it will fare. Not badly, replies Whitman. Because it is still undervalued, prices of U.S. exports are down and prices of imports are up-and people do respond to price changes. Look at the drop in Datsun and Volkswagen sales in America, she says, and at Detroit's unaccustomed competitiveness in foreign markets. In time, the U.S. will repair its trade balance if-a big if-it can keep inflation from eating away its improved competitive situation...