U.S. dollar trades lower in Europe

LONDON (UPI): The United States dollar was trading lower across Europe yesterday morning despite sterling having come off its four-year high.

In London, the U.S. currency was quoted at 1.4975 German marks, down on the previous finish of 1.4982. The dollar traded at 111.22 Japanese yen from the previous finish of 111.42. The pound opened at US$1.6849, down from the previous close of $1.6892.

Sterling was being quoted at 2.5220 German marks from its previous finish of 2.5245 marks.

The French franc also fell under pressure in the morning session, extending the losses seen in late trading Thursday when the currency was sold off quite aggressively, dealers said.

Analysts said investors were concerned that the French Euroskeptics were beginning "to line up", which has heightened speculation about the French position on Economic and Monetary Union.

In Frankfurt, the dollar opened at 1.4977 German marks, down from the previous close of 1.4996.

In Zurich, the dollar opened at 1.2670 Swiss francs, up from the previous close of 1.2665.

In Paris, the dollar opened at 5.0850 French francs, up from the previous close of 5.0840.

In Brussels, the dollar opened at 30.89 Belgian francs, down from the previous close of 30.90.

In Milan, the dollar opened at 1,496 Italian lira, down from the previous close of 1,499.11.

In Tokyo, the dollar closed at 111.25 Japanese yen, down from the previous close of 111.61.

In Singapore, the dollar closed at S$1.4005, down from the previous close at S$1.4011.

In Hong Kong, the dollar closed at HK$7.7319, down from the previous close of HK$7.7320.

Gold opened at $377.00 an ounce in Zurich, up from the previous close at $376.70, while in London it started trading at $376.25, unchanged from the previous close. Gold closed at $377.05 in Hong Kong, down from the previous close at $378.15.

Silver opened at $4.87 in Zurich, down from the previous close at $4.93, while in London it opened at $4.90, unchanged from the previous close.