Dollar Strong in European Markets; Gold Prices Down

The U.S. dollar rose against all major currencies except the Canadian dollar in thin European trading Friday.

Gold prices fell.

Dealers in London said the dollar drew broad support from its strength against the Japanese yen. The dollar has been climbing throughout the week against the yen and closed Friday in Tokyo at 147.90 yen, up from 146.93 late Thursday.

It was the highest level for the dollar since March 27. Traders said the U.S. currency, buoyed by overnight gains abroad, attracted buying from banks, insurance firms and other institutional investors.

In later trading in London, the dollar traded at 148.57 yen.

The British pound fell to $1.6105 from $1.6160 late Thursday.

Gold traded in London at a late bid of $443.80 a troy ounce, down $2.70 from late Thursday.