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BRIEFLY

Europeans vowed to support the dollar's value.

September 23, 1986

The dollar rebounded above 2 West German marks in New York after a weekend meeting in Scotland at which European finance ministers and central bankers agreed to intervene in the market to halt the dollar's decline. After falling last week below 2 West German marks for the first time in 5 1/2 years, the U.S. currency closed at 2.0295 marks on Monday. The decision to stem the dollar's slide was made by the 12 member nations of the European Communities, according to a senior monetary official, and was seen as the latest round in an increasingly public war of words pitting Washington against West Germany and Japan.

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