London, Mar. 11.
Resignation of M. Camille Chautemps' Government yesterday did not surprise the City where, prior to news of it, there was another flurry in the franc.
Moderate continental offerings found the market almost without buyers so that the spot rate rapidly fell to 159,62, compared with overnight closing of 157.31. Eventually, support. by the Control ended the day at 158.75.
Tt was remarked that, while the discount on frane for one month ahead /widened in the morning to 325,0 cents discount, compared with the over-night close of 300.0 cents discount, the rate subsequently improved and closed at 212.5 cents discount. Similarly, three months' delivery opened steady at the previous night's level of 668,0 cents discount and eventually closed at 525.0 cents discount, Some operators believe this reflects the view that, despite appearances, the franc may now follow a more settled French political outlook.—
Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.