Word: pound
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Dates: during 1980-1989
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World currency markets were relatively calm last week. The dollar and the British pound were the strongest of the principal currencies. The strength of the pound was due to Britain's plentiful North Sea oil deposits, which will be worth even more if petroleum prices again increase. It is also kept robust by the country's 16% interest rates. British exporters, however, complain that their goods are now overpriced in foreign markets in comparison with products priced in weaker currencies. The dollar was robust largely because it remains, despite U.S. economic problems, the world's "refuge currency...
...jump in seven years. Moreover, prices are expected to keep right on going up for at least the next six months. Says Rodney Kite, director of agricultural forecasting at Evans Economics in Washington: "Food will be in the forefront of inflation the rest of this year. By December a pound of hamburger or chicken will cost 15% more than it did in June. Pork chops will be 20% higher." Otto Eckstein, president of Data Resources Inc., an economic-forecasting firm, says that by next spring prices of farm products will be up 24% from last spring...
...models as "the American way to beat the pump" will be Chairman Lee A. Iacocca. With a savvy and pound-on-the-fender style learned during 34 years in the auto business, he hopes to sell every one of the 600,000 K-cars that the company can produce this model year. So far, the public's response is good. Even before the cars have moved into dealer showrooms, Chrysler has sold 45,000 to fleet buyers like Xerox and AT&T and another 45,000 to dealers and individuals...
Israel has provided Haddad with millions of dollars' worth of military hardware for his 2,000-man militia. Haddad needs all the help he can get. P.L.O. 105-mm howitzers and mortars at Beaufort Castle regularly pound his headquarters in Marjayoun (pop. 14,000). Haddad also has to contend with an estimated 700 Palestinian guerrillas who have set up 40 outposts in the zone nominally controlled by UNIFIL, the 5,900-man U.N. observer force...
...relatively recent problem for the U.S., a number of European nations have wrestled with it for years, and their own prices have climbed to alpine heights. The late 1970s slide of the dollar against such key currencies as the West German mark, the Swiss franc, and the British pound has only widened the price gap. In Munich, a cup of coffee now sells for the dollar equivalent of $1.50; designer jeans in London go for $65 or more a pair; gasoline costs $3.23 per gal. in Denmark...