Dollar higher in Europe

LONDON (UPI): The dollar was higher in European trading yesterday, dealers covered their short positions in expectation of further central bank intervention.

The U.S. currency was up 0.9 pfennigs against the German mark from the previous London close at 1.5850, while against the pound the dollar rose to 1.5463 dollars from 1.5500 previously.

Bank of Japan intervention in Far Eastern trading kept the dollar from staying below the 100 level against the Japanese yen, and the greenback traded up half a yen at 100.40 yen from an overnight low of 99.95.

In Frankfurt, the dollar opened at 1.5855 German marks, up from 1.5760 at the previous close.

In Zurich, the dollar opened at 1.335 Swiss francs, up from 1.3230 at the previous close.

In Tokyo, the dollar closed at 100.35 Japanese yen, up from the previous close at 99.93.

In Singapore, the dollar closed at S$1.5240, down from 1.5245 at the previous close.

In Hong Kong, the dollar closed at HK$7.7294, up from 7.7287 at the previous close.

Gold opened in Zurich at $385.80, down from $386.00 at the previous close. In London, it opened at $385.50, down from $386.00 at the previous close. Gold closed at $385.85 in Hong Kong, down from $390.35 at the previous close.