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Dollar Declines in Europe Trading

Associated Press

The U.S. dollar declined against major currencies in European trading today amid reports of continued central-bank intervention.

The dollar slipped earlier in Asian trading after the concerted selling of dollars by the U.S. Federal Reserve and European central banks Thursday, dealers said.

The West German Bundesbank intervened early in the day and did so again in the early afternoon when it was joined by the Fed and the central banks of Britain, Switzerland, Italy, France, Austria and Belgium, they said.

In London, one British pound cost $1.7670 late today, more expensive for buyers than Thursday’s $1.7615.

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Earlier in Tokyo, the dollar fell to 128.05 Japanese yen from 129.20 Thursday. In London late today the dollar traded higher at 128.15 yen.


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