The U.S. dollar chalked up sharp gains in Tokyo and London yesterday, but was slightly lower against most other European currencies.
Gold closed in London at $379 an ounce, up $5 on Monday's close of $374. In Zurich it closed at $377 an ounce, up $3.50 from Monday's close of $373.50. In New York gold closed at $378.50.
Foreign exchange trading was quiet with the exception of Tokyo, where the dollar surged nearly three yen to close at its highest level in a year and a half. The dollar closed at $237.70 yen, up 2.95 points from Monday's finish of 234.75, the strength held in New York, where it closed at 237.95 yen. In London the poind fell almost 3 cents to $2.0685 from $2.0960 Monday. The pound closed at $2.07 in New York.
The dollar was also a mite higher in Milan at 834.55 lire against 834.30. On other markets it was lower. In Frankfurt the dollar closed at 1.8085 marks against 1.8120; in Zurich at 1.6750 Swiss francs against 1.6805; in Paris at 4.23375 francs against 4.23775; in Brussels at 29.8550 Belgian francs against 29.94; and in Amsterdam at 2.0077 guilders against 2.013. In New York the dollar was mixed, but the changes from Europe's close were small.