Foreign Exchange : Dollar Slips Against Most Currencies

The dollar slipped lower against most major currencies in quiet trading Wednesday.

Gold prices fell. Republic National Bank in New York quoted gold bullion at $392 an ounce, down $1 from Tuesday’s bid.

Analysts said seasonal factors were keeping the dollar moving in a narrow range against other currencies.

“Most people are putting away their books and are not willing to take losses at the end of the year,” said Daniel Holland, an analyst at Discount Corp., New York.

He added that the dollar hardly responded on the announcement that President Reagan was going into surgery for prostate gland problems, an event that might have been expected to push the dollar sharply lower.

European dealers reported a similar reaction, saying that whatever declines did occur were offset by typical year-end corporate buying.

An exchange dealer in London said trading was sluggish and it seemed that everyone had gone home for Christmas.