Dollar Retreats on Broad Front; Gold Mixed

The dollar fell today against all key currencies except the British pound and Canadian dollar in thin end-of-year European trading. Gold prices were mixed.

Foreign exchange dealers said the dollar likely will maintain current levels during the Christmas holiday season, when trading virtually stops.

In London, the British pound eased to $1.4300 from $1.4305 late Wednesday.

In Tokyo, the dollar fell to a closing 163.20 Japanese yen from 163.75 yen at Wednesday’s close. Later, in London, it fell further to 162.95 yen.

Other late dollar rates in Europe, compared to late Wednesday included: 2.0090 West German marks, down from 2.0155; 1.6885 Swiss francs, down from 1.7007; 6.5925 French francs, down from 6.6055; 2.2720 Dutch guilders, down from 2.2795; 1,394.00 Italian lire, down from 1,397.50, and 1.3796 Canadian dollars, up from 1.3785.

Gold bullion rose in London to a late bid price of $393.90 an ounce, up from $392 bid late Wednesday.

In Zurich, the metal fell to $392 bid, down from $392.50 bid late Wednesday.

Earlier, in Hong Kong, gold fell to a closing bid of $392.64 from $393.94 bid at Wednesday’s close.