CURRENCY POSITION
decline of the dollar. BRITISH ANALYSIS. (United Press Association—By Electric Telegraph.—Copyright.) Received February 10, 1.25 p.m. LONDON, Feb. 9. The outstanding feature of the week lias been the decline in tho dollar, which almost reached the proportions of a slump. Only the intervention of the Exchange Equalisation Fund prevented a sharper fall. A curious feature of the movement lias been the maintenance of the forward premium, despite adverse pressure of spot dollars, indicating that big interests are not concerned with the present fluctuations, the selling apparently coming from people excited by possible inflationary implications in recent American _ legislation. Well-informed ■circles discount the alarmist talk and consider there is little possibility of President Roosevelt departing Irom the present 59 cent gold dollar system. It was a quiet week on the Stock Exchange. Few are sorry, as the feeling was growing that the pace was rather hot. Gilt-edged securities continue dull, but the prospect of a Budget surplus lias strengthened New Zealand stocks.
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Bibliographic details
Manawatu Standard, Volume LVI, Issue 62, 11 February 1936, Page 8
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163CURRENCY POSITION Manawatu Standard, Volume LVI, Issue 62, 11 February 1936, Page 8
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