P. M. BRIEFING : U.S. Dollar Rises; Gold Prices Fall
The U.S. dollar rose sharply today against all major currencies in thin European trading while gold prices fell more than $4 a troy ounce.
Dealers said the dollar steadied in early trading as European dealers digested U.S. economic growth data released Thursday, squared their dollar positions and then withdrew from the market.
But the dollar strengthened later when U.S. traders, who had earlier bet on a decline in the dollar, also squared their positions and generated dollar buying.
In London, the British pound fell to $1.6455 from $1.6598 late Thursday.
In Tokyo, the dollar rose to a closing 139.45 Japanese yen, up from 139.35 yen at Thursday’s close.
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