FUTURES $US contract jumps
I The United States dollar contract rose on the futures market yesterday, by 85 points for May over the day, and 65 points for June on a reasonable trading volume. ; The rises reflected a weakening of the New Zealand dollar. The United States dollar was fairly steady against most currencies because of a holiday on Monday (early yesterday N.Z. time) in Europe and North America. The Australian dollar fell against the American dollar, however, for the third successive trading day. Dr Brent Laytin, of Marshall Futures, Christchurch, yesterday cautioned investors against being short in the United States dollar contract overnight. I The commercial bills contract was disappointingly quiet again yesterday, only 12 con-
tracts being traded. Prices were fairly steady. The wool contract was also very quiet. Dr Layton reports considerable interest in the trading in overseas futures contracts which Marshall’s now offers. Among those trading had been property companies heading on borrowing in Deutschmarks and Swiss francs. Details of trading on the New Zealand exchange yesterday:
SUS CONTRACT 85 Open H/L Last Vol May 2.2202 .2285/200 .2285 50 June 2.2620 .2670/605 .2670 36 July 2.3000 .3000/995 .2995 3 Contracts traded: 89. COMMERCIAL BILLS 85 Open H/L Last Vol July 7560 7560/50 7550 6 Aug. — - 7520 2 Sep. 7500 7505/7500 7503 3 Dec. — 7915 1 Contracts traded: 12.
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Press, 29 May 1985, Page 37
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222FUTURES $US contract jumps Press, 29 May 1985, Page 37
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