Federal Reserve Board Chairman Paul Volckersaid a further large drop in the value of the dollar could be
counterproductive for world economic growth. Testifying before
the Senate Banking Committee, Volcker said that Europe and
Japan were slowing exports and that growth in those countries
was also decreasing. (NRFD 1428)
    NEW YORK - The dollar held onto its gains which were made
with the help of remarks by Fed Chairman Paul Vocker.  His
comment that a further, sizeable decline could be
counter-productive helped the U.S. Currency recover to the
unchanged level of 1.8265/73 marks. (NYFC 1433)
    WASHINGTON - U.S. Treasury Secretary James Baker holds
talks with counterparts from Europe and Japan to urge them to
carry out commitments in a recent accord to speed their
economic growth. (NREC 1302)
    WASHINGTON - Federal Reserve Board Chairman Paul Volcker
said that debtor nations have made much progress in laying the
groundwork for economic growth, but a solution to world debt
difficulties was endangered by inaction on new financing. (NRFM
1439)
    LONDON - Gold bullion eased to an afternoon fix of 418.50
dlrs, 258.653 stg, an ounce in sympathy with lower values on
Comex, dealers said. The market remained fairly quiet, however,
and was still being overshadowed by silver. (GDLS 1457)
    WASHINGTON - Shifts in domestic economic policy, not a
further fall in the dollar or trade restrictions, are the key
to reducing imbalances in trade and payments, Dutch Finance
Minister H.Onno Ruding said. (NRFA 1417)
 REUTER
