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Foreign Exchange : Dollar Off Against Most Currencies

November 07, 1986|Associated Press

NEW YORK — The dollar fell against most key currencies Thursday in a nervous session that traders linked to uncertainty over the impending release of U.S. unemployment figures and wariness about central bank intervention.

Gold prices rose. Republic National Bank of New York quoted bullion at a bid price of $409.80 an ounce, compared to $406.25 on Wednesday.

Currency dealers said there was initial excitement from a Japanese newspaper report that quoted Finance Minister Kiichi Miyazawa as indicating a range of 154-160 yen to the dollar would be desirable under an agreement announced last week between the United States and Japan.

That report, which was not confirmed, first sent the dollar tumbling in Tokyo but the currency recovered later and closed higher.

Many traders apparently refrained from trading significant amounts of dollars until the release of the Labor Department's October unemployment figures on Friday.

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