US dollar firm, gold steady
PA New York The U.S. dollar overcame early losses in Japan and Europe, and edged higher against most leading currencies yesterday, continuing an erratic path amid confusion over the course of interest rates in the U.S. The price of gold was little changed. Currency dealers said the choppy trading reflected confusion among traders about the outlook for the dollar. “The market just thinks dollar interest rates will remain high,” said Robert Ryan, senior trader at Irving Trust Company in
New York. In New York the British pound inched up to $U51.5260 from $U51.5253 late on Tuesday. Other dollar rates in New York at 4 p.m., compared with late rates on Tuesday, included: 2.5468 West German marks, up from 2.5425; 7.6425 French francs, up from 7.6265; 2.1073 Swiss francs, up from 2.1010; and 1.2280 Canadian dollars, down from 1.2293. The dollar recovered to 239.40 Japanese yen from 239.20 late yesterday.
On the New York commodity exchange, gold for July delivery rose SUS2.OO to close at $416.20.
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Press, 1 July 1983, Page 17
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170US dollar firm, gold steady Press, 1 July 1983, Page 17
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