Dollar Shatters Records; Gold Mixed
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NEW YORK — The dollar continued to shatter records Monday, staging a sharp advance that for the first time ever sent the British pound tumbling below $1.10, while 1,000 Italian lire fell below 50 cents and the French franc briefly slipped under 10 cents.
But the dollar finished below its highs of the day as some traders sold the currency late in the session to cash in on its spectacular rally.
The price of gold fell in Hong Kong but gained ground in Europe and the United States. Republic National Bank in New York said gold bullion was bid at $303.75 an ounce as of 4 p.m. EST, up $3.05 from the late bid Friday.
Even with its late decline, the dollar managed to wind up at record closing highs against the currencies of Britain, Canada, France and Italy.
Dealers said the dollar continued to be supported by robust economic activity in the United States.
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