Dollar’s Value Holds Steady

The dollar rallied on overseas markets Wednesday but fell back in U.S. trading after Federal Reserve Chairman Alan Greenspan, in a bit of bearish news for the currency, hinted that American interest rates have peaked.

The dollar ended little changed against most key currencies, hovering at a 28-month low against the surging German mark. The mark advanced broadly as investors, seeking a haven from political and financial turmoil in numerous European nations, continued to park funds in German banks and securities.

In late New York trading, the dollar was quoted at 1.4690 marks, down from 1.4700 late Tuesday. The dollar also was changing hands at 96.90 Japanese yen, down from 97.10.

Exchange Currency in Dollars Dollar in foreign currency Canada .7161 1.3965 France .1948 5.1340 Germany .6818 1.4668 Great Britain 1.5885 .6295 Japan .010330 96.81