Dollar Advances Slightly; Gold Also Posts Small Rise
LONDON, Aug. 28 (UPI)ÛÓ The U.S. dollar moved fractionally higher in world money markets today, partly reflecting higher interest rates in the United States and Japan but mostly continuing the dollarÛªs general upward trend.</br></br>Dealers and traders tended to discount specific causes for the reversal of MondayÛªs slight dollar slide.</br></br>ÛÏThe fluctuations in August have little to do with the underlying trend, which is a gradual improvement of the dollar,Û said a Paris banker in a typical comment.</br></br>But the higher American and Japanese interest rates helped price the dollar upward in every market. The price of gold also rose slightly.</br></br>The dollar closed higher on both branches of the Paris marketÛÓat 4.40 francs for the financial dollar tourists use and at 4.35 francs for the official commercial dollar.