The U.S. dollar rose sharply yesterday in Tokyo and made slight advances on most European exchanges and in New York as dealers adjusted their books from what was described as an overreaction to U.S. inflation figures.
Gold was higher. In Zurich, gold closed at $244.625 an ounce, up from Thursday's close of $242.375. In London it closed at $244.875 an ounce, up from $242.65 at the close on Thursday. In New York, gold closed the week at $246.30.
In Tokyo, the dollar jumped to 219.16 yen from 217.75 at Thursday's finish. In Frankfurt the dollar rose to 1.8923 German marks from 1.8890 Thursday in Zurich to 1.7145 Swiss francs from 1.71325; in Paris to 4.352 French francs from 4.351; in Amsterdam to 2.0520 Dutch guilders from 2.0510; and in Milan to 846.15 lira from 845.55.
In New York, the dollar was mixed but notched a small gain over the European prices. At the close of inter-bank trading it was quoted it: 219.60 yen, 1.8937 German marks, 1.7150 Swiss francs, 30.10 Belgian francs, 4.3525 French francs, 2.0520 Dutch guilders and 845.70 Italian lire. The pound rose to $2.0565.