TRADE, EXCHANGE RATES AND BUDGETS
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TRADE, EXCHANGE RATES AND BUDGETS America's 12-month current-account deficit soared above $300 billion for the first time, to $301.2 billion in the third quarter. Germany's 12-month current-account deficit widened to $10.1 billion in October; Japan's surplus narrowed to $113 billion. The euro hovered above parity with the dollar. Sterling rose to 3.14 D-marks, its highest against the German currency since May 1989.
This article appeared in the Economic & financial indicators section of the print edition under the headline “TRADE, EXCHANGE RATES AND BUDGETS”
From the December 18th 1999 edition
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