The U.S. dollar weakened in European trading today after a U.S. deficit-reduction accord refocused attention on prospects of lower U.S. interest rates. Gold prices rose. Dealers said doubts over the deficit-reduction accord had eased in recent days but news of the program still raised the probability of an easing of monetary policy by the Federal Reserve. Despite suggestions during Tokyo trading that the Bank of Japan might be prepared to intervene to slow the dollar's slide, dealers said they doubted that major central banks would be prepared to coordinate dollar purchases. In Tokyo, the dollar fell 0.10 yen to a closing 129.95 yen. Later in London, it was quoted at 130.30 yen. At midday in New York, the dollar was trading at 130.44 yen. Other late dollar rates in Europe, compared with late Monday's rates included: 1.5245 German marks, down from 1.5355; 1.2765 Swiss francs, down from 1.2840; 5.1005 French francs,ddown from 5.1400; 1.7185 Dutch guilders, down from 1.7315; 1,143.25 Italian lire, down from 1,150.75, and 1.1507 Canadian dollars, down from 1.1515. In London, the British pound was quoted at $1.9705, compared with $1.9745 late Monday. In New York the pound was quoted at $1.9729. Selected midday dollar rates in New Yo`Where is the rest of corporate America?'' But Hawkes says there are changes blowing in the wind. He said even the big corporations, which do not have a primary agenda of social change, are seeing that such practices sell. ``It's a neat example of capitalism,'' he said. ``Some of it is going to be shallow, of course, but we ought to welcome even the most greedy enterprise that puts stakes in a service to society.''
