5:20 AM
NEW YORK (UPI) - The dollar bounced narrowly up and down Monday to close on an indecisive note as markets awaited the flash GNP report later this week.
Gold was unchanged.Pemex, the Mexican oil company, had no official comment on the report it had lowered oil prices.
Dealers noted that the dollar-yen rate was little changed from Friday, even though lower oil prices would help Japan. The British pound, which usually is highly sensitive to oil price reductions, also was only slightly down on the oil news.
Dealers in London and New York said trading was extremely quiet.
In London, the British pound closed unchanged at $1.2795, despite the Mexico oil reports. In New York, sterling was $1.2791, down slightly from Friday's $1.2831.
The Canadian dollar fell to 72.98 U.S. cents from 73.16 cents.Frankfurt markets were closed for a holiday, but in New York the dollar eased to 3.0570 marks from 2.0610.
Other European closing rates with late New York prices and comparable Friday rates in parentheses:
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