Advertisement
YOU ARE HERE: LAT HomeCollections

Dollar Up Against Most Currencies

April 15, 1986|Associated Press

NEW YORK — The dollar rose slightly against most major currencies Monday, an advance that dealers linked to U.S.-Libya tension, the uncertain outcome of an OPEC meeting and a Japanese press report that Japan and the United States would attempt to keep the U.S. currency at the 180-yen level. The report was denied.

Gold price fell in light trading. Republic National Bank of New York quoted gold at $341.50 an ounce as of 4 p.m. EST, down from $344.50 bid Friday.

Foreign exchange analysts said the dollar's behavior was largely influenced by uncertainty about key world economic and political issues.

Analysts said the persistent fear of hostilities between the United States and Libya had raised demand for dollars, historically a haven for funds in times of political uncertainty.

Traders also remained uncertain about prospects for an agreement among ministers of the Organization of Petroleum Exporting Countries on a strategy to help the depressed oil market.

Advertisement
Los Angeles Times Articles
|
|
|