$US unchanged
NZPA-Reuter New York The U.S. dollar closed little changed in quiet Friday (early Saturday New Zealand time) New York tfadihg, as the market’s focus shifted to cross-trading,with the mark gaining ground and the yen and sterling falling back. . .■ ■ Thd?,dollar Closed at 1.8411/19 Deutsche ?marks, little moved from Thursday’s finish of 1.8410/17; Deutsche marks, and at 144.24/29 yen, up from 144.00/10 yen oii Thursday. . j Given the dollar’s failure to rise much following a smaller-than-expected U.S. September trade deficit reported on Thursday, and a larger-than-expected October U.S. housing starts figure, it is vulnerable on the downside this week, traders said.
A corporate adviser for a large U.S. investment bank predicted the dollar will trade in ranges of 1.82 to 1.86 •Deutsche marks and 143 to 145 yen this week. Market sentiment is bearish towards the U.S. currency, due to weakness in the U.S. manufacturing sector, which economists believe will cause the Federal Reserve to ease credit policy again soon. Bucking the trend of recent indicators the U.S. trade deficit shrank to (U 57.94 billion in September, Sterling ended at $U51.5670/77 down i from (U51.5760/70 on Thursday. The dollar closed at 1.6308/ 18 Swiss francs, little changed from 1.6312/22 francs, and at (Can1.1695/00 up from sCanl. 1685/90.
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Press, 20 November 1989, Page 14
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207$US unchanged Press, 20 November 1989, Page 14
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