CURRENCY : Dollar Mixed, Day Quiet as Trade Figures Awaited

The dollar ended mixed against most key currencies Thursday in apathetic trading that money dealers attributed to a lack of influential economic news.

Gold prices fell. Republic National Bank of New York quoted gold at $428.20 as of 4 p.m. EST, down from $430.25 late Wednesday.

“It was so quiet today,” said Toshihiko Masaki, a foreign exchange trader at the New York branch of Japan’s Sanwa Bank. “The market is waiting for the next trade figures.”

The Commerce Department is scheduled to report the January merchandise trade deficit and the fourth quarter on March 17. The deficits over the previous two months have shown a decline, easing pressure on the dollar.

Some traders also are focusing on the department’s March 15 release of the 1987 fourth-quarter current account balance, which measures foreign trade in goods and services.

In the third quarter, the service portion of that statistic showed a deficit for the first time, and that deficit was expected to increase in the fourth quarter. The amount of increase could put pressure on the dollar.

In Tokyo, the dollar closed at 129.30 yen, up from 128.47 Wednesday. But later in London it retreated to 129.15 yen. By the time trading concluded in New York, the dollar was worth 129.12 yen, lower than 129.40 yen quoted late Wednesday.

In London, the British pound stood at $1.7680, unchanged from late Wednesday. Later in New York the pound was quoted at $1.7700, slightly more expensive than $1.7673 late Wednesday.

Other late dollar rates in New York, compared to late Wednesday levels, included: 1.6943 West German marks, down from 1.6978; 1.4050 Swiss francs, up from 1.4030; 1.2531 Canadian dollars, down from 1.2571; 5.7310 French francs, down from 5.7385; 1,248.00 Italian lire, down from 1,248.25.

Other late dollar rates in Europe compared, to rates late Wednesday, included: 1.6955 West German marks, up from 1.6945; 1.4035 Swiss francs, up from 1.4005; 5.7355 French francs, up from 5.7345; 1.9025 Dutch guilders, up from 1.9013; 1,249.25 Italian lire, up from 1,247.00; and 1.2535 Canadian dollars, down from 1.2558

Gold bullion fell in London to $427.80 an ounce, compared to $429.50 late Wednesday. In Zurich, it fell to $429.00 from a $429.50 bid late Wednesday, and in Hong Kong it fell to $433.96 from $434.95.

On the Commodity Exchange in New York, gold bullion for current delivery fell $3.10 an ounce to $427.70.

Silver bullion traded late in London at $6.22 an ounce, down from $6.24 late Wednesday. On the New York Comex, silver bullion for current delivery was quoted at $6.264 an ounce, up 4.8 cents.

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