Dollar Rises Against Most Currencies

The dollar was up slightly against most major currencies in light trading Thursday after posting minor declines in Europe earlier in the day.

Gold prices were higher.

“It’s clear it’s very difficult to sell and see a major move,” said Gordon Beals, an analyst at Prudential-Bache Securities.

In trading against the Japanese yen, the dollar wound up at 163.85 yen, marginally higher than Wednesday’s 163.40 close and slightly above the 163.35 yen closing in London. Earlier in Tokyo, where the trading day begins, the U.S. currency closed at 162.70 yen, down from 164.00 yen Wednesday, despite an apparent effort by the Bank of Japan to help the dollar recover from its recent lows.

On Monday, the dollar fell to 160.20 yen, its seventh post-World War II record low finish in three weeks.

In Europe, dealers said remarks by the head of West Germany’s central bank had helped keep the dollar relatively stable--though it did drop slightly against all major currencies there.