Dollar, stock market plummet

The stock market chased the dollar downhill today. Responding to reports that the dollar had fallen by two yen in Tokyo, the stock market went down 47 points between 9 a.m. and noon. The dollar had been steady for a week. But then it began to fall in London, yesterday and Tokyo, today. By closing time in London, the dollar was down against all major currencies. It was especially hard hit by the German mark, down 0.23 marks to the dollar. In Tokyo, currency trading focused on the dollar and yen. However, the Tokyo Stock Exchange went up by 23.25 yen despite the rising yen.

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Notes

steady – стабильный

despite – несмотря на

The dollar falls again

The U.S. dollar fell again in world currency markets. It reached new lows against the Japanese yen and the German mark. Traders in Japan said that there seems to be practically nothing the Japanese government can do to support the dollar.

Some economists in the United States are also worried. They said they hoped the major governments will now deal with the problem in international trade. “ They have to concentrate on joint solutions.” said one economist. “These problems can only be solved systematically.” Another said, “Now that everyone is suffering, maybe they will work together.”

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Notes

currency markets – валютные торги

support, v - поддержать

joint solutions – совместные решения