Dollar Closes Slightly Lower; Gold Up

The dollar was down slightly against most major currencies in a narrow range of trading Wednesday, as most dealers remained on the sidelines awaiting further clues on the state of the U.S. economy.

Gold prices rose. Republic National Bank in New York quoted a bid of $402.75 an ounce, up from $402 late Tuesday.

In Tokyo, the dollar fell to a closing 153.55 yen from 153.79 yen at Tuesday’s close. It was unchanged at 153.55 yen in London. Later, in New York, it stood at 153.365 yen, down from 153.672 yen.

The British pound eased in London to $1.5390 from $1.5400 late Tuesday. In New York, sterling fetched $1.5390 vs. $1.5385.

Other late dollar rates in Europe, compared to late Tuesday, were: 1.8280 West German deutsche marks, down from 1.8395; 1.5375 Swiss francs, down from 1.5565; 6.0775 French francs, down from 6.1345; 2.0620 Dutch guilders, down from 2.0825; 1,297.50 Italian lire, down from 1,311.25.