Dollar’s future
PA Wellington The growing spy scandal in West Germany and the emergence of the Rainbow Warrior “Watergate” could have bullish ramifications for the United States dollar, a chief foreign exchange dealer said today. The chief dealer with the Bank of New Zealand, Mr Gordon Filmer, said the French franc had appreciated against the mark after news of the disappearance of a Chancellery secretary, Mrs HertaAstrid Willner. Mr Filmer said the development “added vigour” to the franc against the mark, but any benefit gained could be counter-balanced by the political furore caused by the sinking of the Rainbow Warrior. In that event, the United States dollar would appreciate against both currencies, Mr Filmer said. Dealers said the New Zealand dollar was bound to fall to around SUSO.SO if the already firm United States dollar gained much more ground. The New Zealand dollar traded at around SUSS2SO/57 in late trading yesterday against its $U50.5265/75 opening. Yesterday the New Zealand dollar was worth 52.6 c U.S., 77.56 c Aust., 39.5 p, 127.7 yen and 1.53 marks. Sterling firmed to $U51.3293/00.
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Press, 20 September 1985, Page 19
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179Dollar’s future Press, 20 September 1985, Page 19
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