Dollar Retreats in U.S.; Gold Mixed
NEW YORK — The dollar fell against other major currencies in U.S. trading Friday after mostly losing ground in European markets.
In Tokyo, the dollar rebounded from a postwar low against the yen, but later the U.S. currency again pulled back against the yen in Europe and the United States.
Gold prices, meanwhile, edged lower in New York after posting minor gains overseas. Republic National Bank in New York quoted gold as of 4 p.m. EST at $344 an ounce, down $1 from Thursday’s late bid.
Currency dealers continued to focus on the dollar’s recent weakness against the yen, particularly after two leading Japanese government officials expressed concern about the yen’s advance.
Foreign Minister Shintaro Abe told Japan’s Parliament that “all means should be used†to prevent the yen from strengthening further. Prime Minister Yasuhiro Nakasone, meanwhile, voiced his concern in an interview in which he reiterated his belief that the yen’s rise has been too fast.
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