Word: greenbackers
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...travelers who are affected. The falling dollar can also have a big impact at home. It can make things more expensive in our own neighborhoods, raising the price of everything from Nikons to Nintendos. The stock market is already telling us it doesn't like this slump in the greenback. The Dow Jones industrial average dropped 139 points last week, including a 62-point drop on Friday...
...sharp decline of the greenback hurts...
...Federal Reserve launched an international effort to halt the dollar's steady slide, but the rescue was largely seen as a failure since the greenback rallied only briefly and the Dow industrials and bond markets plummeted. Earlier in the week currency traders pushed the dollar below the 100-yen mark for the first time since World...
...international effort to bolster the dollar failed resoundingly today -- the currency rose slightly, then fell back. President Clinton was clearly frustrated by the greenback's predicament, pointing to a robust American economy that should increase the traders' faith in the dollar. Wall Street responded by running for cover: the Dow Jones industrial average fell 62 points...
...signals investors hate most: the Fed might again take steps to prevent inflation by boosting interest rates. Treasury Secretary Lloyd Bentsen, trying to stand tall a day after the dollar sank to a post-World War II low against the Japanese yen, vowed action if needed to bolster the greenback. Economists said the two men are in a bind: allow the dollar to fall further, and potentially provoking inflation, or raise interest rates and dampen U.S. economic growth...