In Evidence; "Financial News" Gives Analysis London, Sept. 1.
The London foreign exchange market today opened with brisk buying of dollars again in evidence, and consequently Uyited States currency quickly appreciated to 485.00 cents. compared with last night's closing rate of 485.81 cents.
Conditions, however, soon quietened down, and, following the fixing of the London gold price at 143/3%0 per fine ounce, Which, with the dollar at 485.25 cents, did not include any premium over the American shipping parity, the undertone for sterling became steadier. At the close of the market, the dollar was quoted at 485.75 cents.
Commenting on the recent fall in the value of sterling, the "Financial Times" cites four contributory factors, vizi—i 1. Deterioration of the trade position in Great Britain and the sterling area; 2. Fact thai the present season normally witnesses a commercial demand for dollars; ads Conversion of testing balances to 3. Bear speculation, and,
situation—Reuter.
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Text read from the printed page and cleaned; old type leaves the occasional error.