LONDON, Jan. 7, Reuter: The dollar opened European trading on Thursday little changed from values seen earlier in Tokyo in a nervous market shaken by Wednesday’s hectic rumor driven trading.
“People are frightened to sell, and nobody wants to buy,” said one Frankfurt dealer. The dollar began in Europe at 1.6480 marks after closing on Wednesday in New York at 1.6470.
The dollar rose on Wednesday on reports that leading central banks had set target zones for it which they were ready to defend.
London shares opened mixed to firmer, dealers said.
The main blue chip barometer, the Fise 100share index, rose just above 1,795 points in the first 15 minutes, from Wednesday’s close at 1,787.
But shares were generally quoted slightly lower in Frankfurt, where dealer’s said ‘there was some profit taking after a rally.
Paris stocks eased, too, but dealers there said volume was very thin and that they could pick up later.
“The important thing at the moment is that the markets are stable”, one said.
Article extracted from this publication >> January 15, 1988