Dollar Turns Narrowly Mixed in U.S.
NEW YORK — The dollar turned in a narrowly mixed performance in U.S. trading Thursday after closing higher against most major currencies in Europe.
Gold prices fell. Republic National Bank in New York quoted gold at $411.10 an ounce, down from $412 late Wednesday.
Analysts in New York said dealings were quiet and the dollar traded in a narrow range following the currency’s more hectic pace and downward moves earlier this week.
There were rumors of token intervention in support of the dollar by the Bank of France. French central bank intervention would be “a political move to placate” other members of the so-called Group of Seven, major industrialized nations who want currency rates stabilized, said James T. McGroarty, a vice president with Discount Corp.
McGroarty said the market had “finally stabilized on the back of all the general negative sentiment that had been fueling the dollar all week,” and was slowing down in advance of the weekend.
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