U.S. dollar loses ground across Europe
LONDON (UPI): The U.S. dollar was trading lower across Europe yesterday morning, following the release of German money supply data.
In London, the U.S. currency was quoted at 1.5019 German marks, down on the previous finish of 1.5040. The dollar traded at 111.06 Japanese yen from the previous finish of 111.36.
German M3 grew an annualized 8.4 percent compared with the fourth quarter of 1995, unchanged from the September rate and broadly in line with market expectations.
The business sentiment index came in at 97.4, up on September's 95.7. and well above market expectations of around 96.0.
Sterling was steady at higher levels against other major currencies ahead of the release of retail sales data for October. Sterling was being quoted at 2.5210 German marks from its previous finish of 2.5245 marks.
In Frankfurt, the dollar opened at 1.5037 German marks, up from the previous close of 1.5033.
In Zurich, the dollar opened at 1.2675 Swiss francs, unchanged from the previous close.
In London, the pound opened at d1.6809, up from the previous close of US$1.6753.
In Paris, the dollar opened at 5.0772 French francs, down from the previous close of 5.0825.
In Brussels, the dollar opened at 30.92 Belgian francs, down from the previous close of 30.97.
In Milan, the dollar opened at 1,508.50 Italian lira, down from the previous close of 1,512.58.
In Tokyo, the dollar closed at 111.23 Japanese yen, down from the previous close of 111.67.
In Singapore, the dollar closed at S$1.4012, up from the previous close at 1.3995.
In Hong Kong, the dollar closed at HK$7.7320, unchanged from the previous close.
Gold opened at US$378.50 an ounce in Zurich, unchanged from the previous close, while in London it started trading at $378.25, unchanged from the previous close.
In Hong Kong, gold closed at US$378.35, down from the previous close at $378.65.
Silver opened at $4.90 in Zurich, up from the previous close at $4.89, while in London it opened at $4.88, unchanged from the previous close.