Word: peak
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Such moves can cause bitterness if they are not carefully coordinated. The U.S. and six European allies last February launched a joint intervention that brought the dollar down slightly from its all-time peak. But while the Bundesbank put $4 billion into a $10 billion international fund to buy currencies, Washington supplied only $600 million. That left the Germans vulnerable to a big loss when the price of the dollar rose again this summer, lowering the value of the marks that they had bought. Now Bonn wants assurances that the U.S. will do its share to finance the current fund...
...time looked right last week to begin a devaluation campaign. At its peak in February, the dollar was selling at a far higher price than could be justified by any calculation of economic growth and inflation rates. A slow and irregular decline set in. Money traders, who were already debating how much further the dollar might fall and how fast, pounced on last Sunday's five-government announcement as a signal to start selling greenbacks immediately. In New York some traders came to work at 10 p.m. Sunday to be on hand for the opening of the Hong Kong...
...leader at or near the peak of his influence, but perils surround him. As he heads into what may be the most challenging weeks of his presidency, Ronald Reagan must do battle over deficits, trade, taxes, farm aid and the positions he will take in Geneva at the November summit with the Soviet Union's Mikhail Gorbachev...
...Yosemite National Park is not the usual place to track celebrities. But campers in the glacier-carved valley found themselves asking for autographs when Robert Redford showed up along with Secretary of the Interior Donald Hodel for the formal dedication of Mount Ansel Adams, an 11,900-ft. peak named for the great wilderness photographer. Redford, 48, talked about his concern for protecting natural areas and the impression Yosemite made on him when he first saw it at age ten. "I think the environment should be put in the category of our national security," he declared. "Defense of our resources...
...summit this November, the battle will peak. Says a top White House aide: "It may be that the summit will be 'won' or 'lost' on the p.r. front." Already, U.S. and Soviet advance teams have scouted Geneva for the best camera angles...