Dollar Again Mixed in Quiet Trading; U.S.-Japan Auto Talks Outcome Pending
AuthorAffiliation Special to The Wall Street Journal</br></br>As New York dealings wound down for the day, there wasn't any news of the outcome of the talks. Earlier in the day, Mr. Kantor said the discussions about autos with Mr. Hashimoto may continue later in the week, when both men will attend quadrilateral trade talks with Canada and the European Union in the Canadian ski resort of Whistler.</br></br>Mr. Kantor's suggestion that auto talks will continue in Whistler quelled fears of an imminent breakdown in the negotiations and reversed the dollar's losses earlier yesterday against the yen, traders said.</br></br>Earlier, the dollar had been weakened by the release of weaker-than-expected U.S. leading indicators, which provided further evidence that the economy is heading for a "soft landing" this year, with growth moderating and inflation under control. That hurts the dollar because it suggests the Federal Reserve is unlikely to boost interest rates any time soon.</br></br>Late in New York, the dollar was at 1.3733 marks, down from 1.3777 marks late Tuesday, and at 83.65 yen, up slightly from 83.55 yen, the day before. Sterling was trading at $1.6170, up from $1.6161. Financial markets were closed Thursday in Tokyo for a public holiday.