U.S. dollar firms
PA ' London / The US. dollar closed quietly higher in thin trading as operators squared up positions ahead of the weekend and the G-5 meeting, dealers said.
It ended at 2.6325/75 marks after opening lower at 2.6010/30 against Thursday night’s close of 2.6200/ 50. Last Friday the dollar closed at 2.6810/40 marks.
Dealers said there was some profit taking towards the-European close but New York were dictating movements in the absence of any fresh influencing factors. Sterling closed lower at $U51.4130/50 after an opening 1.4290/4300 and Thursday’s 1.4245/60.
Dealers said there was continued market feeling that the G-5 central banks were still not content with the dollar’s level, but there were no signs of intervention on Friday
Lower levels are expected next week with some seeing a new chart point at 2.54 marks once it breached 2.60. Uncertainty over the outcome of the IMF/World Bank meeting in Seoul was injecting some caution.
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Press, 7 October 1985, Page 30
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154U.S. dollar firms Press, 7 October 1985, Page 30
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