Value Of Yen Rises On Japan Floats Currency
The Japanese yen jumped 5 percent against the dollar after Tokyo allowed the currency to float. The yen closed at 341.30 per dollar on the Tokyo market with about $160 million traded. Officials expect further intervention if the yen rises too high as part of broader efforts tied to U.S. dollar realignment.
MENTIONED IN THIS ARTICLE
Tokyo
U.S
Tokyo Stock Exchange
Nixon
Mikio Mizuta
Japan
United States
Bank of Japan
Tadashi Sasaki
d@reed
U.S. Treasury
White House
Britain imposes sterling idle deposits ban after yen float
Britain responds to Japan’s yen flotation by blocking interest on new foreign deposits in London and curbing nonresident sterling funding. Banks face limits on converting foreign deposits to sterling, while residents and sterling area entities remain unaffected. The move aims to curb speculative flows as Japanese prices rise and European exporters may gain.
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London
Britain
Tokyo
Treasury
Japan
Bank of England
Financial Times
Sterling Area
Sterling
May Pay Hikes May Be Unfrozen for Workers
In the wake of Japan allowing the yen to float, the Nixon administration hinted that frozen pay hikes estimated at about 500 million dollars could be released. Assistant Labor Secretary W J Usery said decisions will be made in due time, responding to labor complaints while noting contracts should be honored where valid.
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Washington
Japan
Nixon
W.J. Usery
Labor
Usery
Organized Labor
A Five Year Old’s Wry Views On Life And School
Minneapolis AP recounts Scott a five year old who muses on topics from police to planets during a family vacation. He describes pollution, war, space, weather and God in simple terms and notes “Black people do the same thing as white people.” He heads to kindergarten this fall.
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Scott
U.S
Judy
New York
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Minnesota
Albuquerque
N.M
el Paso
Tex
St. Pet Beautiful
Mommie
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Iran
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Confederation of
British Steel Corp
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Asst. Secretary of Commerce
Harold C. Passer
Walter Heller
Council of Economic Advisers
Kennedy
Johnson
Earth
Jupiter
God
Heaven
Jesus
Galtibles
Hutch
Motorola
Coronado
Coronado Portable
SEA & Ski
Isuntan
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