Dollar Gains Against Most Currencies As Bears Rush to Cover Short Positions
NEW YORK -- The dollar rose against most currencies yesterday, as the market's failure to push it below a key technical support against the mark triggered a wave of short-covering by bears who lost confidence in their positions.</br></br>Late in New York, the dollar was quoted at 1.5880 marks, well above</br></br>1.5750 marks late Wednesday in New York. Sterling was trading at</br></br>$1.5355, down from $1.5425. Against the yen, however, the U.S. currency</br></br>was about unchanged, trading at 100.35 yen, compared with 100.30 yen