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Dollar Falls Against Most Currencies

February 19, 1986|Associated Press

NEW YORK — The dollar fell against most major currencies Tuesday after a short-lived rally against the Japanese yen.

Gold prices rose. Republic National Bank of New York said the metal was quoted at a bid price of $337.50 an ounce as of 4 p.m. EST, up $3.75.

The dollar stemmed an eight-day slide against the yen in Tokyo, rising to 181.75 yen from 180.75 on Monday. But the rally fizzled later in London, where the dollar fell back to 181.125 yen. By the time trading closed in New York, the dollar was quoted at 180.325 yen.

The dollar fell against key European currencies in late New York dealings after a mixed showing in Europe.

"It had another bad day," said Ross Taylor, a trader at Prudential-Bache Securities Inc., a New York investment firm. "The U.S. authorities are giving their blessing to the situation."

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