LONDON, FEB. 15 -- The U.S. dollar fell today in Europe, where trading was quiet because of holidays in West Germany and the United States. Gold prices rose.
Foreign currency dealers said the dollar moved up and down a bit during slight position-adjusting maneuvers among those who remained to trade.
"We are doing only nominal trading," said one dealer at a major West German bank in Frankfurt. "Very small sums are crossing the floor."
In Tokyo, where trading ends as Europe's business day begins, the dollar rose 1.05 yen to a closing 131.00. Later, in London, it was quoted at 130.15 yen. In London, the dollar fell slightly against the British pound. It cost $1.7455 to buy one pound, compared with $1.7401 late Friday.
Encouraged by the dollar's steep rise against the yen, prices climbed in moderate trading on the Tokyo Stock Exchange today.
The Nikkei average of 225 selected issues, which gained 109.61 yen Friday, added 225.53 yen to close at 24,207.47 yen, marking the first time since the October global equities market collapse that the key indicator has risen above 24,000.
The Tokyo Stock Exchange index of all listed stocks was up 13.29 points at 1,962.60.
Export-related issues led the advance. Precision instruments Olympus Optical and Canon were bought by domestic and foreign investors.
Prices rose on the Hong Kong Stock Exchange, despite extremely slow trading as many investors stayed out of the market ahead of Chinese New Year celebrations.
The Hang Seng Index closed 14.52 points higher at 2,301.75. The market will close early Tuesday for the New Year holiday. It will reopen Monday.
Prices on the Singapore Stock Exchange strengthened in moderate trading in line with the improvements in Tokyo and Hong Kong. The All Shares Price Index rose 2.57 points to 259.02.
The Sydney Stock Exchange closed higher after a rally in the gold sector. The All Ordinaries Index gained 10.6 points to end at 1,210.
Late dollar rates in Europe, compared with late Friday, included: 1.7085 West German marks, down from 1.7123; 1.4040 Swiss francs, down from 1.4065; 5.7705 French francs, down from 5.7865; 1.9180 Dutch guilders, down from 1.9225; 1,257.50 Italian lire, down from 1,260.75, and 1.2658 Canadian dollars, up from 1.2624.
Gold prices rose in active European trading. The late bid price of gold was $445.10 a troy ounce in London, compared with late Friday's $443. In Zurich, gold closed at a bid $445.50, compared with $443.50 late Friday.
Bullion markets in Hong Kong were closed for Chinese New Year.
Silver bullion prices rose marginally in London where it was trading at a late bid price of $6.35 a troy ounce, compared with Friday's $6.34.