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NZPA-Reuter New York The United States dollar closed marginally lower on Friday in dull, narrowranged trading on position adjustments ahead of the week-end’s G-7 meeting. The monetary talks in West Berlin were not expected to produce any surprising news on currencies. This will avoid shaking financial markets ahead of the U.S. presidential election, The strong 6 per cent rise in U.S. durable goods orders in August pushed the dollar up to 1.8790 Deutsche marks initially, but fears of intervention soon pulled it back, they said. The dollar ended at 1.8745/50DM against Thursday's 1.8750/55. The dollar finished lower at 134.35/40 yen from Thursday’s 134.65/ 70, after trading narrowly between 134.27 and 134.65. Most currency markets were closed during the week-end, but the Bahrain market was open and many senior dealers were ready to trade from their homes if fresh news came out from the G-7 meeting, dealers said. Sterling rose to end at $U51.6705/15 from $U51.6685/95 at Thursday’s close. The dollar also ended lower at 1.5830/35 Swiss francs from 1.5850/55, but higher at $Can1.2225/30 from sCanl.2lBB/93.
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Press, 26 September 1988, Page 11
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178$US ends lower Press, 26 September 1988, Page 11
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