GREENSPAN BOOSTS DOLLAR SLIGHTLY

The dollarstarted to climb out of a deep hole today, prompted byFed Chairman Alan Greenspan's warning to Congress that the currency's recent plunge could increase inflation.TIME Washington correspondent Suneel Ratanexplains that the currency climbed slightly because Greenspan's comments were interpreted as a hint that the Fed might be forced to hike interest rates once more, a development currency traders would welcome. After Greenspan told legislators that making deficit reduction a top priority would help insure a stable dollar in the future, the dollar rose slightly above yesterday's record lows against the German mark and the Japanese yen. Ratan warns that it is not clear whether the Tokyo markets will continue the pattern on Thursday.