ABSTRACT
The Lira remains stable for a few days – but weakening relative to the Deutschmark-Dollar trend – and then continues its revaluation process when the negotiations climate improves after Gianfranco Fini's intervention, between Thursday 7 and Friday 8, 1994. The Lira depreciates with the domestic events, but does not react to the international events. There probably was a private, celebratory reaction among the most prominent leaders of Italian economic policy. A marked rally of the Dollar, after the pronounced devaluation experienced in the first half of 1995, takes shape as of the end of July with a series of almost simultaneous events occurring primarily in Japan. The events in Japan generate a temporary strengthening of the Deutschmark that, having returned to the previous levels, appreciates again on Thursday, June when the Bundesbank fails to cut interest rates at its periodic meeting. At the beginning of 1996 the Dollar is at 1.4323 against the Deutschmark and at 103.42 against the Yen.
