Dollar heads higher

LONDON (UPI): The U.S. dollar drifted slightly higher yesterday in mostly technical trading against major foreign currencies as players awaited news from the Bundesbank Central Bank Council meeting.

In European trading, the dollar began the day stronger in Frankfurt at 1.5562 marks, up from 1.5530 Wednesday.

The dollar began the day higher in Zurich at 1.3360 Swiss francs, up from 1.3316. In Paris, the dollar opened higher at 5.2577 French francs, up from 5.2441.

The dollar opened firmer in Brussels at 32.07 Belgian francs, up from 32.03 and began the day higher in Rome at 1,531.70 Italian lira, up from 1,529.02 lira.

In London, the pound began the day steady at $1.6718.

Earlier in Asia, the dollar jumped in Tokyo to 113.94 yen from 113.37 yen during Wednesday's session.

The Nikkei Index nosedived 522.36 points or about 2.60 percent in value to its lowest level of the year of 19,570.67.

Elsewhere in Asia, the dollar eased slightly in Singapore to 1.3997 Singapore dollars from 1.3998 but inched higher in Hong Kong to 7.7380 Hong Kong dollars from 7.7365.

In precious metal trading in Europe, gold opened 25 cents an ounce higher in Zurich at $369.75 and opened 50 cents higher in London at $369.25.