U.S. dollar gains ground in Europe despite meeting

LONDON (UPI): The U.S. dollar started trade higher across Europe yesterday morning, despite some caution ahead of the policy-making meeting of the U.S. Federal Reserves later in the day.

In London, the U.S. currency was quoted at 1.5067 German marks, up on the previous finish of 1.5013. Against the Japanese yen, the greenback changed hands at 111.39, little changed from the previous 111.44 yen.

Dealers said the dollar gained in overnight trading following comments from Bundesbank President Hans Tietmeyer in support of a firmer dollar.

The British pound was quoted at 2.4881 German marks from its previous finish of 2.4719 marks.

In Frankfurt, the dollar opened at 1.5065 German marks, up from the previous close of 1.4935.

In Zurich, the dollar opened at 1.2695 Swiss francs, up from the previous close of 1.2610.

In London, the pound opened at US$1.6425, down from the previous $1.6463.

In Paris, the dollar opened at 5.0917 French francs, up from the previous close of 5.0735.

In Brussels, the dollar opened at 31.05 Belgian francs, up from 30.89.

In Milan, the dollar opened at 1,517.95 Italian lira, up from the previous close of 1,514.10.

In Tokyo, the dollar closed at 111.52 Japanese yen, little changed from the previous close of 111.45.

In Singapore, the dollar closed at S$1.4012, up a shade from the previous close at S$1.4001.

In Hong Kong, the dollar closed unchanged from its usual rate of HK$7.7325.

Gold opened at US$382.65 an ounce in Zurich, up from $381.75, while in London it started unchanged at $382.00, and later fixed at $382.50. In Hong Kong, gold closed at US$382.65, up from the previous close at $381.85.

Silver opened at US$4.90 in Zurich, up from $4.87, while in London it opened unchanged at $4.92.