Dollar Ends Lower in U.S. Trading
NEW YORK — The dollar turned in a narrowly mixed performance Monday in listless foreign exchange trading, drifting mostly higher in Europe before settling back in the United States.
Gold prices were also mixed. In after-hours trading, Republic National Bank quoted a bid for gold at $318.75 an ounce, down 25 cents from late Friday.
The dollar’s gain in Europe came despite a new government report that underscored the weakness in the U.S. economy, something that would normally be accompanied by a decline in the dollar.
The Federal Reserve Board said the operating rate at U.S. factories dropped 0.4 percentage point to 80.3% in May, the fifth decline in the last six months.
But some analysts have said the dollar remains attractive despite the recent sluggishness in the U.S. economy because growth rates are even lower in many European countries.
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