Dollar Mixed in Sluggish Trading
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NEW YORK — The dollar was mixed in sluggish activity Wednesday on world currency markets, which closed early for the Christmas holiday. Gold prices rose slightly.
The dollar’s movements were mainly determined by market participants balancing positions in advance of the holiday, traders said.
They noted the U.S. currency is widely expected to remain relatively weak through the beginning of 1987.
“The market is so thin, it’s based on nothing, really,” said Alfred Driever, a vice president of Salomon Bros. in New York. “The overall picture (for the dollar) still looks rather weak.”
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