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Dollar slides vs mark

NEW YORK: The dollar drifted downward against the mark and yen at midday, but investors took advantage of the move lower by purchasing the US currency, dealers said.

The dollar fell to 1.5085/95 marks at midday from 1.5107/12 at the open.

The dollar stood at 108.32/37 yen at midday, down from 108.47/50 at the open.

Shortly after midday, the dollar traded back above 1.51 marks. It had repeatedly orbited 1.51 during the morning.

In other trade, the dollar stood at 1.2325/35 Swiss francs at 1300 EDT/1700 GMT, up from 1.2305/15 at the open.

Sterling was at $1.5077/87, barely changed from $1.5079/87 at the open. The dollar inched up to Canadian $1.3357/62 from C$ 1.3550/60.-Reuter