Dollar is trading higher on most European marts

LONDON (UPI): The dollar was trading higher in Europe yesterday, rising against the German mark and the Japanese yen after the Federal Reserve's open market committee concluded its meeting Wednesday without indicating a rise in interest rates.

Against the mark, the dollar was quoted at 1.5785 marks, 70 - pfennig on Wednesday's London close of 1.5690. The dollar traded at 98.93 yen, up from its previous London close of 98.13.

The mark was stronger against the French franc but weaker against the pound as the Bundesbank held its fortnightly council meeting.

Against the franc, the mark was quoted at 3.4357, up slightly on the previous close of 3.4330.

The pound was quoted at 2.4365 marks, up from Wednesday's close of 2.4304.

Sterling was slightly easier against the dollar at $1.5435 near midmorning, compared with its previous close of 1.5495.

In Frankfurt, the dollar opened at 1.57/3 German marks, up from 1.5685 at the previous close.

In Zurich, the dollar opened at 1.3275 Swiss francs, up from 1.3200 at the previous close.

In Brussels, the dollar opened at 32.69 Belgian francs, up from 32.47 at the previous close.

In Paris, the dollar opened at 5.4190 French francs, up from 5.4100 at the previous close.

In Rome, the Bank of Italy gave its indicative opening quotation for the dollar at 1,568.50 lira, down from its previous indicative closing quotation of 1,571.00.

In Tokyo, the dollar closed at 99.05 Japanese yen, up from the previous close at 98.30.

In Singapore, the dollar closed at S$1.5205, up from S$1.5200 at the previous close.

In Hong Kong, the dollar closed at HK$7.7285, slightly down from HK$7.7289 at the previous close.

Gold opened in Zurich at $384.20, down from $386.20 per ounce at the previous close. In London, gold opened at $384.50, up from $384.00 at the previous close. Gold closed at $384.35 in Hong Kong, down from $385.95 at the previous close.

Silver opened in Zurich at $5.25, down from the previous close at $5.36, while in London it started trading at $5.26, down from $5.28 at the previous close.