Foreign Exchange for Thursday, Jan. 30, 1986 : Dollar Mostly Lower; Gold Is Mixed
NEW YORK — A report showing deterioration in the U.S. trade balance pushed the dollar down in trading at home and abroad Thursday.
The dollar recovered a bit in U.S. trading, but still finished lower against most major currencies except the Canadian dollar.
Gold prices were mixed. Republic National Bank in New York quoted gold at $355.20 an ounce as of 4 p.m. EST, down 50 cents from Wednesday’s late bid.
As trading was getting under way in the United States, the Commerce Department reported that the U.S. trade deficit hit a record $148.5 billion in 1985.
The department said in another report that its index of future economic activity advanced 0.9% in December.
Although it was one of the best gains in nearly a year, the increase was less than expected by many analysts.
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