The U.S. dollar closed mixed Monday against other major foreign currencies in European trading. Gold prices, meanwhile, were little changed. Currency dealers said news of a major loss by West German Chancellor Helmut Kohl's conservative Christian Democractic Union party in two state elections Sunday boosted the dollar against the mark. ``The election outcome wasn't really favorable for the D-mark,'' said a trader at a large European bank in Frankfurt. ``It looks like the dollar has recovered a bit from last week's weakness.'' European markets, however, didn't react to news that U.S. business inventories were unchanged in March, dealers said. The economic indicator was fully in line with expectations, they added. Traders predicted quiet trading before the release, later in the week, of several other U.S. economic indicators. The Japanese yen continued to recoup major losses suffered earlier this year, dealers said. One trader said the more stable Japanese stock exchange justifies a stronger yen. In Tokyo, the dollar fell to a closing 153.35 Japanese yen from 154.15 yen at Friday's close. Later, in London, it fell to 152.75 yen. In London, the British pound was unchanged from Friday's close at $1.6817. By midday in New York it traded at $1.68025. Other late dollar rates in Europe, compared with late Friday: 1.6442 West German marks, up from 1.6300; 1.3952 Swiss francs, down from 1.3955; 5.5430 French francs, up from 5.5096; 1.8472 Dutch guilders, up from 1.8330; 1,209.75 Italian lire, up from 1,200.40; and 1.1767 Canadian dollars, down from 1.1783. Selected midday dollar rates in New York, included: 152.845 Japanese yen, 1.6470 West German marks, 1.39475 Swiss francs, 1,209.60 Italian lire, and 1.17575 Canadian dollars. Gold bullion dealers said gold was locked in a narrow range and they predicted trading volume would remain thin. Gold rose in London to a late bid price of $369.75 a troy ounce, up from $369.05 bid late Friday. In Zurich, gold fell to $368.75 an ounce, down from $368.80 Friday. Earlier, in Hong Kong, gold fell 0.97 cents to close at a bid $369.10 an ounce. Silver bullion rose in London to a late bid price of $5.09 a troy ounce, up from $5.06 Friday.
