LONDON — The U.S. dollar rose against all major currencies except the Canadian dollar and the Italian lire in thin trading in Europe today. Gold prices were little changed.
Speculation that the United States may post a smaller-than-expected merchandise trade deficit in May helped trigger afternoon buying that pushed the dollar higher, dealers said. The official figure for May is to be released Wednesday.
One trader said the deficit would have to exceed $14 billion to turn sentiment against the dollar. Economists forecast a May deficit of about $13.6 billion.
Late dollar rates in Europe included: 1.8496 West German marks, up from 1.8425; 1.5405 Swiss francs, up from 1.5365; 6.1540 French francs, up from 6.1335; 2.0765 Dutch guilders, up from 2.0760; 1,334.50 Italian lire, down from 1,335.50, and 1.3177 Canadian dollars, down from 1.3200.