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Dollar softer vs mark

NEW YORK: The dollar fell against a strengthening mark at US midday amid a selloff of yen on the fresh crisis unfolding in the Japanese financial system.

The mark-yen cross soared to a 26-month high of 67.10 after Japan's largest credit union, Kizu Shinyo Kumiai, was forced to partially suspend business and Finance Minister Masayoshi Takemura announced a scheme to liquidate Hyogo Bank.

At midday, dollar/yen stood little changed at 98.90/00 from 98.95/05 at the open while the dollar fell to 1.4752/57 marks from 1.4787/92 at the open.

At midday, the dollar fell to 1.2105/15 Swiss francs from 1.2165/70 at the open. It rose to Canadian $1.3368/73 from $1.3360/65 at the open. Sterling fell to $1.5435/45 from $1.5440/50 at the open.-Reuter