CBS Evening News for Monday, Jan 04, 1988
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(Studio: Dan Rather) Report introduced.
(London, England: Tom Fenton) Impact of falling dollar upon Tokyo, Japan, stock market discussed; scenes shown. Japanese noted stabilizing dollar. London, England, reported experiencing dollar rally because of Japanese action. Secret agreement reported being made between United States and international market to regulate dollar. Strategy noted working. [Barclays Bank spokesperson Mark BRETT - says solution is temporary.] London brokers reported advising clients to be cautious. Paris, France, stock exchange discussed. [Trader Nicolas MOTELAY - says no market is sound.] Possible United States actions detailed. [Econ. Michael HUGHES - comments on United States situation.] Dollar reported likely to fall further.
(Studio: Dan Rather) New York City stock exchange noted reacting favorably to Commerce Department report on construction spending. Report introduced.
(NYC: Ray Brady) Stk. Mkt. Report Federal Reserve Bd. and central banks reported buying dollars. [TRADERS - comment on dollar buying.] Dollar's decline illustrated. Econs. noted blaming Reagan administration for erratic dollar behavior. [Fin. analyst Anne MILLS - comments on DC's lack of action.] Chicago, Illinois, graphics equipment factory mentioned benefiting from falling dollar. [Factory owner Merle BANTA - comments on competitive prices.] Falling dollar's impact upon United States Rust Bowl mentioned. [International economy Alan STOGA - says dollar's behavior represents threats of recession.] [TRADER - says administration will act to prevent recession.] For. trade figs. mentioned being announced next week Traders quoted.
(Studio: Dan Rather) Consumer confidence index outlined.