Foreign Exchange for Wednesday, Feb. 13, 1985 : Dollar Closes Below Day’s Highs

The dollar extended its record-shattering rally to a ninth straight session on Wednesday, but finished below its highs of the day as traders wondered how long the surge could last.

Gold prices were little changed.

The Federal Reserve Board in Washington said its trade-weighted index measuring the value of the dollar against 10 other currencies rose to a new high for the ninth straight trading session. The dollar also set records in trading against the currencies of France, Italy, Norway, Spain and Sweden, reached 13-year highs against the West German mark and Dutch guilder and a seven-year high against the Swiss franc.

The British pound recovered slightly to $1.0875 in London after falling to an all-time low Tuesday of $1.0870. Later in New York, sterling was quoted at $1.0906 against $1.09075 late Tuesday.

In Europe, gold nudged up 75 cents in London to a late bid of $302.75 an ounce.