Dollar, gold mixed
Thu Jan 16, 6:07 AM ET
LONDON - The U.S. dollar was mixed against other major currencies in European trading Wednesday, rising again against the euro after a surge in recent days by the single European currency. Gold prices also were mixed.
The euro was quoted at US$1.0572, down from US$1.0581 Wednesday. On Tuesday, the European currency reached a new three-year high of US$1.0597, largely on fears of war with Iraq and doubts about the U.S. economy.
The euro has risen more than 22 percent against the dollar since last February. Economists say the driving factor is more the dollar's weakness than any new strength in the economies of the 12 countries that use the euro currency.
Growing concern about the economic impact of a war with Iraq comes on top of uncertainty over the U.S. economy and stock markets that has pushed the dollar down over the past year.
Other dollar rates compared with late Wednesday:
_117.86 Japanese yen, down from 117.88
_1.3839 Swiss francs, up from 1.3818
_1.5347 Canadian dollars, down from 1.5375
The British pound was quoted at US$1.6038, up from US$1.6035.
Gold traded in London at US$350.85 bid per troy ounce, up from US$350.60 on Wednesday.
In Zurich, the bid price was US$350.18, down from US$351.02.
Gold closed at US$351.05 an ounce in Hong Kong, down US$1.10.
Silver traded in London at US$4.76 bid per troy ounce, up from US$4.74.
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