Word: frances
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...tsetse fly, on slave labor, on trade tariffs, on the future of the Australian wombat. Conferences are supposed to begin and end punctually, and then the delegates depart to make room for the next set of delegates. That is the system, and the motto on the Swiss 5-franc coin is "Dominus providebit" (The Lord will provide). This week the $100-a-day hotels are filling up with visitors to the world's biggest auto show, which is being held at the new Palexpo exhibition hall. Next week U.S. and Soviet diplomats arrive to resume arms-control talks. Such things...
...steep decline. That might cause a sudden burst of inflation by making imports more expensive. For the moment, though, the dollar seems to be holding its own. On the day Citibank led the prime-rate cuts last week, the dollar surprisingly rose against the deutsche mark and the French franc. One reason for the dollar's continued strength is that foreign central banks, especially in Western Europe, have been reducing interest rates in their countries just as the Federal Reserve has in the U.S. As a result, many overseas investors are still content to keep their money...
...dollar gyrated last week in jittery foreign exchange markets. At first it hit new peaks against the West German mark, Japanese yen and French franc, but as U.S. interest rates fell, the dollar began to drop. On Thursday and Friday it declined 2% against the mark and franc and 1% against...
...economists fear it might eventually force the Federal Reserve to push up interest rates to keep growth under control. The clearest sign of U.S. economic might has been the continuing strength of the American dollar abroad. Last week it hit alltime highs against the British pound and the French franc and climbed to an 11½-year peak against the West German mark. The British pound was worth more than $2.30 in 1980 and about $1.50 a year ago, but now fetches barely $1.25. Late the week the West German Bundesbank bought several hundred million dollars' worth of marks...
...economy showed several signs of vigor last week. The dollar set records against the French franc and Italian lira and was worth more than three West German marks for the first time since 1973. To foreign investors, said Walter Heller, who was President Kennedy's top economic adviser, "the U.S. is the safest and most profitable haven around for investment." Bond prices surged on the belief that the Federal Reserve Board is easing its monetary policy. Stocks also rallied. The Dow Jones industrial average jumped 30 points to finish the week...