Word: tradings
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Dates: during 1980-1989
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...took consolation in the temporary halt of the dollar's worrisome slide. In a calculated strategy orchestrated by Treasury Secretary James Baker in the wake of Black Monday, the Government has been allowing the dollar to decline. Baker believed not only that a lower dollar would help ease the trade deficit by making American goods more competitive but also that propping up the currency would force the U.S. to keep interest rates too high just when a recession became possible. In the past month or so, the dollar has dropped 7% against the West German mark...
...some respects, the U.S. did. President Reagan gave verbal, albeit offhand, support for the dollar, helping halt the currency's plunge, which has alarmed governments from Japan to West Germany during recent weeks. Even more upbeat was the announcement that the U.S. trade deficit, the closely watched barometer of America's global competitive woes, improved by a gratifying degree during September. But at week's end the financial world was left holding its breath for what had been promised as the most reassuring development of all: a bipartisan agreement to cut the U.S. budget deficit. After three weeks of daily...
...dollar got a far less ambiguous boost later in the week with the Commerce Department's announcement that the U.S. trade deficit shrank during September to $14.1 billion, down from $15.7 billion in August. The decline was sharper than expected, especially by comparison with the disappointingly small improvement in the previous month's results. The disclosure of those results on Oct. 14 helped trigger the crash five days later. Despite September's narrowing, the trade gap remains huge by any standard. At the current rate, the 1987 deficit is likely to exceed last year's record of $156 billion...
...rising prices of foreign imports. Last week Porsche, the West German sports-car manufacturer, announced plans to cut production because of sharply declining sales in the U.S., where the company sells fully 60% of its output. Meanwhile, the Administration is continuing its efforts to force other countries to remove trade restrictions. The White House announced plans to increase tariffs on Brazilian imports by some $105 million in retaliation for that country's barriers against U.S.-made computer software...
While watching the trade situation, Wall Street struggled to overcome its fears of the bogeyman it holds partly responsible for Black Monday. Computerized program trading, which was blamed by some experts for accelerating the Oct. 19 slide, was permitted to resume early last week. That prompted nervous traders to send the Dow Jones average falling a sharp 58.85 points on Monday. The Dow rocketed back 61.01 on Thursday, fueled by the trade-deficit improvement. The market got more good news on Friday when the Government said that wholesale prices during October fell .2%, which means that the Federal Reserve...