Mark Rises Against Dollar To Reach a 15-month High
LONDON, Ocl. 20 (AP>ÛÓThe mark-rose to a 35-month high against the dollar today in a foreign exchange market that was expecting West German interest rates to go higher while U.S. interest rates decline.</br></br>The dollar fell to 2.4195 marks from 2.4327 late Tuesday. However, the mark remained at second from the bottom in the joint Hoat of European currencies. The Danish kroner was at the top. while the Swedish krona stayed at the bottom.</br></br>Thursday to decide whether action should be taken to reduce the rate of expansion of GermanyÛªs money supply by tightening bank credit and rasing interest rates.</br></br>If a decision on German credit policy is delayed, sdme foreign exchange dealers expect the mark to rise further.</br></br>Probably one of the biggest influences in the market were reports from New York that the U.S. Federal Reserve soon may loosen credit conditions further to ensure that the recent slowdown in the U.S. business recovery isnÛªt pushed too far.