Dollar Mixed in Quiet U.S. Trading
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NEW YORK — The dollar was mixed in quiet to moderate trading on U.S. and Japanese markets Friday, moved by year-end orders to purchase or sell the currency.
Precious metals markets were closed in New York, London, Zurich and Hong Kong.
Traders said year-end orders by corporations had an exaggerated effect in the thin market, with many participants extending their Christmas and Hanukkah holidays to Friday.
“Thin is not the word; that’s being kind,” said John Lynam, a vice president of Security Pacific Bank in New York. “The liquidity in the market is going to be missing until the fifth (of January).”
Jack Annunziato, a currency dealer with Prudential-Bache Securities, said that a number of market participants limited their activity Friday to balancing their positions ahead of the new year.
In Tokyo, the dollar declined against the Japanese yen in moderate trading.
Markets in Europe were closed.
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