Speculation Boosts Dollar

The dollar gained against the Japanese yen Monday on an unconfirmed report that the leading industrial nations are setting a high dollar-yen target.

The greenback was generally mixed against major currencies, but fell sharply against the British pound in trading tied to news of weakness in the British economy. The dollar wavered against the German mark and Swiss franc after a weekend meeting of European monetary leaders yielded little more than handshakes.

A Japanese news report citing unidentified sources said the Group of Seven industrial nations would set a target for the dollar of 110 yen when they meet in Washington this weekend.

Exchange Currency in Dollars Dollar in foreign currency Canada .7469 1.3388 France .2026 4.9350 Germany .6997 1.4291 Great Britain 1.5898 .6290 Italy .000621 1611.40 Japan .009945 100.55 Mexico .155594 6.4270