Dollar loses ground in Europe and Asia

LONDON (Agencies): The dollar was lower in European trading yesterday, partly undermined by a stronger German mark after Sunday's election results.

Against the Japanese yen, the dollar was quoted at 98.05, down on its previous finish of 98.24. The dollar was trading at 1.6054 against the pound, over a cent lower than Friday's close of 1.5933.

Against the dollar, the German currency was quoted at 1.5040, up on Friday's finish of 1.5190. The German mark traded at 2.4146 against the pound, from a previous close of 2.4196.

In Frankfurt, the dollar opened at 1.5040 German marks, down from the previous close at 1.5199.

In Zurich, the dollar opened at 1.2535 Swiss francs, down from the previous close of 1.2655.

In Paris, the dollar opened at 5.1525 French francs, down from 5.2110 at the previous close.

In Brussels, the dollar opened at 30.95 Belgian francs, down from the previous close at 31.37.

In Rome, the dollar opened at 1,537 lira, down from the previous close at 1,550.55 lira.

In Tokyo, the dollar closed at 97.97 Japanese yen, down from 98.87 at the previous close.

In Singapore, the dollar closed at S$1.4740, down from S$1.4760 at the previous close.

In Hong Kong, the dollar closed at HK$7.7275, unchanged from the previous close.

Gold opened at US$388.50 an ounce in Zurich, up from the previous close at $387.50, while in London it started trading at $388, up from the previous close at 387.50. Gold closed at $388.95 in Hong Kong, up from $387.25 at the previous close.

Silver opened at $5.38 in Zurich, down from the previous close at $5.40, while in London it opened at $5.40, up from the previous close at $5.39.