Foreign Exchange for Tuesday, Oct. 8, 1985 : Dollar Rises in U.S., Mixed in Europe
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NEW YORK — The dollar rose against other major currencies in quiet U.S. trading late Tuesday following a mixed performance earlier in Europe.
Gold prices nudged higher in Hong Kong, then fell in later trading in Europe and the United States. Republic National Bank of New York said gold bullion was bid at $324.75 an ounce, down $2.25.
Currency dealers said a perception is growing among traders that central banks are content with what they have already accomplished since Sept. 22 to lower the value of the dollar.
But at the same time, traders remain wary of possible further intervention, or sales of dollars, by leading central banks.
The balancing of those two sentiments contributed to a trading session that lacked direction, dealers said.
“I would say it was a pretty quiet session with no trend either way,” said Peter Rogers, a vice president with Banco di Sicilia in New York.
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