CURRENCY REPORT
The U.S. dollar continued to strengthen in the past week, particularly in response to news of a sharp reduction in the U.S. February trade deficit to SUSI3OOM, reports the foreign exchange department of the Bank of New South Wales. This is the lowest for some considerable time. The successful conclusion of the Middle East peace talks has also continued to show some reflection in the strong dollar. Sterling, too, has continued to firm in the wake of the recent no-confidence vote in the Labour Government, and expectations of a Conservative Party victory at the U.K. general election on May 3. Last Monday the Danish crown hit its intervention limits against the weakest E.M.S. member, the Belgian franc, and the Danish Central Bank was forced to intervene.
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Press, 9 April 1979, Page 27
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128CURRENCY REPORT Press, 9 April 1979, Page 27
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