Dollar Up Against Most Currencies

The dollar fluctuated in very subdued trading Thursday, but ended the day higher against major foreign currencies except the Canadian dollar.

Gold prices rose slightly. Bullion was quoted at $338.50 by Republic National Bank in New York, up 40 cents from Wednesday’s bid.

“Today was boring,” said Peter Wild, vice president of foreign exchange at Bank Julius Baer & Co. in New York. “It (the dollar) was trading in a very narrow range. People are trying to figure out the next move.”

The dollar rose on some light buying prompted by a Commerce Department report that Americans’ personal incomes, held back by weak growth in wages and salaries, fell 0.1% in May.

While that decline was the first in a year, the number was better than had been expected, Wild said.

The drop in income was accompanied by a strong 0.9% increase in consumer spending. That was the best advance in five months.