Dollar inches up across Europe

LONDON (UPI): The U.S. dollar was trading mainly higher across Europe yesterday morning but within tight ranges as the market awaited the release of U.S. August employment data as well as the possible release of German June industrial output data.

In London, the U.S. currency was quoted at 1.4790 German marks, down on the previous finish of 1.4792. The dollar traded at 106.80 Japanese yen from the previous finish of 107.06.

Sterling came under pressure overnight, which surprised dealers given that the dollar rallied against the German mark.

Traders said there was renewed concern about the impact of mad cow disease on the British economy, following Thursday's news that the disease can be transmitted from cow to calf, although they said a technical sell-off was a more likely explanation for sterling's move.

Sterling was being quoted at 2.2845 German marks from its previous finish of 2.2893 marks.

In Frankfurt, the dollar opened at 1.4793 German marks, up from the previous close of 1.4786.

In Zurich, the dollar opened at 1.2069 Swiss francs, up from the previous close of 1.1990.

In London, the pound opened at US$1.5432, down from the previous close of $1.5570.

In Paris, the dollar opened at 5.0210 French francs, up from the previous close of 5.0080.

In Brussels, the dollar opened at 30.50 Belgian francs, down from the previous close of 30.65.

In Milan, the dollar opened at 1,520 Italian lira, up from the previous close of 1,518.80.

In Tokyo, the dollar closed at 106.86 Japanese yen, down from the previous close of 107.28.

In Singapore, the dollar closed at S$1.4155, up from the previous close at $1.142.

In Hong Kong, the dollar closed at HK$7.7359, up from the previous close of 7.7345.

Gold opened at US$387.35 an ounce in Zurich, up from the previous close at $386.75, while in London it started trading at $386.25, unchanged from the previous close. In Hong Kong, gold closed at HK$387.45, up from the previous close at $386.65.

Silver opened at US$5.15 in Zurich, up from the previous close at $5.13, while in London it opened at $5.15, unchanged from the previous close.