Dollar Gains Against Major Currencies, Gold and Silver Stable

Strategic Insights -

The US dollar saw a broad-based rally against its major currency counterparts, with the euro and other European currencies showing significant declines. The pound and other European currencies also lost ground against the dollar. Meanwhile, gold and silver prices were stable, with gold closing unchanged in London and Zurich, and silver holding steady at $4.93 per troy ounce. The British pound was quoted at $1.4592, down from $1.4603, and the euro was valued at 89.80 cents, down from 89.92 cents.

Key Takeaways:

  • The US dollar gained against its major currency counterparts, with the euro, pound, and other European currencies showing declines.
  • Gold and silver prices were stable, with gold closing unchanged in London and Zurich, and silver holding steady at $4.93 per troy ounce.
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  • Intel Corp. warned that it may move its $3 billion microprocessor factory to another country if Israel doesn't commit to paying a larger share of the cost.
  • The proposed merger of America Online Inc. and Time Warner Inc. may be blocked by federal antitrust attorneys unless the companies agree to let competitors use their high-speed cable lines.

Statistics:

  • The dollar rose to 105.68 Japanese yen, up 0.08 yen from Friday.
  • The dollar was worth 1.7289 Swiss francs, up 0.0052 Swiss francs from Friday.
  • The dollar gained 0.02 US cents against the euro, closing at 89.80 cents.
  • The British pound was quoted at $1.4592, down 0.01 from $1.4603.
  • The dollar increased 0.25 cents, or 0.092%, against the German mark, closing at 2.1775 marks.

Sources:

  • "The Wall Street Journal"
  • "Bloomberg News"
  • "The Washington Post"
  • "Reuters"