Yen steady in European trading

LONDON (UPI): The Japanese yen was steady against the dollar in European trading yesterday amid concern that political uncertainty following the resignation of Prime Minister Morihiro Hosokawa could hamper efforts to revive stalled trade talks with the United States.

The Japanese currency traded at 103.47 against the dollar, down a fifth of a yen from the previous London close. In Frankfurt, the dollar opened at 1.7138, up from the previous close of 1.7078.

In Zurich, the dollar opened at 1.4450 Swiss francs, up from the previous close at 1.4390.

In London, the pound opened at US$1.4675, down from the previous close of $1.4746.

In Brussels, the dollar opened at 35.30 Belgian francs, up from the previous close at 35.16.

In Paris, the dollar opened at 5.8702 French francs, up from the previous close at 5.8478.

In Milan, in unofficial dealing, the dollar opened at 1,626.50 lire, up from the previous close of 1,620.16.

Earlier in Tokyo, the dollar closed at 103.52 yen, down from 104.48 at the previous close.

The dollar closed in Singapore at S$1.5635, down from the previous close at S$1.5665.

In Hong Kong, the dollar closed at HK$7.7263, up from the previous close at 7.7260.