Foreign Exchange for Friday, Feb. 15, 1985 : Dollar Broadly Lower; Gold Is Mixed

The dollar tumbled broadly Friday in what analysts said was profit taking in the wake of a record-setting surge earlier in the week on foreign exchange markets.

Gold prices were narrowly mixed. In after-hours trading, Republic National Bank in New York quoted gold at $304.25 an ounce, up $1 from the late bid Thursday.

For the week, the dollar finished higher against most major currencies compared to last Friday’s levels. The latest decline ended a nine-day run in which the dollar set record highs each day in Europe against the French franc and Italian lira.

During the week, the dollar also pushed the British pound to an all-time trading low of $1.0838 and reached 13-year highs against the West German mark and Dutch guilder and a seven-year high against the Swiss franc.