Dollars creeps up in Tokyo

TOKYO (Agencies): The dollar crept up yesterday after thin trading in a narrow range as players sat back awaiting U.S. labor data.

The greenback closed at 103.00 yen, up 0.25 yen from New York's late rate Friday and 0.20 yen from Tokyo's close. Spot turnover was US$4.39 billion, down from Thursday's $12.58 billion.

The dollar traded in a range between 102.71 yen and 103.15 yen after opening at 102.72 yen.

Dealers said the central Bank of Japan was seen stepping into the market to prop up the dollar, but trading was thin due to the Easter holiday in other countries.

Expectations are that the labor data expected in the United States Friday will be favorable, but the market appears to have already discounted it.

In New York, the dollar slipped to 1.6725 German marks in late New York trading on Thursday, down from 1.6750 marks Wednesday. It eased to 102.62 Japanese yen from 102.80 Wednesday.

The dollar closed lower against the major European currencies Thursday after the U.S. Commerce Department said the economy grew less vigorously than expected in the fourth quarter, but still at its fastest rate in almost a decade.

Before the long Easter holiday, the dollar closed in London at 1.6683 marks and at 102.61 yen compared to 1.6788 marks and 103.49 yen at the previous close.

Sterling dropped back from earlier highs against the German mark, having pushed through 2.48 at one point. The pound closed at 2.4776 marks and $1.4845 dollars in London compared with the previous London close of $2.4835 and $1.4790.

In Frankfurt, the dollar closed at 1.6675, down from the previous close of 1.6770.

In Zurich, the dollar closed at 1.4100 Swiss francs, down from the previous close at 1.4240.

In London, the pound closed at $1.48, up from the previous close of $1.47.

In Brussels, the dollar closed at 34.43 Belgian francs, down from the previous close at 34.62.

In Paris, the dollar closed at 5.7100 French francs, down from the previous close at 5.7330.

In Milan, in unofficial dealing, the dollar closed at 1,611.28 lira, down from the previous close of 1,632.81.

In Zurich, gold closed at $389.00, up from $387.25 at the previous close, while in London it closed at $389.25, up from the previous close at $386.75.

Silver closed in Zurich at $5.70, up from the previous close at $5.65, and in London it closed at $5.72, up from the previous close at $5.64.