Foreign Exchange for Thursday, June 6, 1985 : Dollar Edges Higher in U.S.; Gold Up
The dollar edged higher against most other major currencies in U.S. trading Thursday in a rebound from declines in European activity.
The British pound, however, rose against the dollar in both centers to recover from its slide in the previous session.
Gold prices edged ahead worldwide. Republic National Bank in New York quoted gold as of 4 p.m. EDT at $315.50 an ounce, up 70 cents from Wednesday’s late bid.
Currency markets from around the globe reported relatively light trading, especially in West Germany, where banks closed early for a half-day holiday. Corporate investors in particular were reported reluctant to enter the market because the thin activity amplified the effect of individual trades.
“There was very little going on -- a complete lack of interest,” said a trader in Frankfurt.