U.S. Dollar Sustains High on Strong Labor Data, Fed Minutes By Investing.com



© Reuters.

Investing.com – The U.S. dollar was near a one-month high on Thursday, as an unexpected decline in the number of people filing for unemployment assistance last week helped it maintain momentum.

The , which measures the greenback’s strength against a basket of six major currencies, was up 0.1% to 97.972.

Data on Thursday showed that the is gaining strength, even as the economy slows. Initial claims for unemployment benefits fell for the third straight week to a seasonally adjusted 211,000, the Labor Department said.

The U.S. dollar was also pushed higher by minutes from the Federal Reserve’s last meeting, which underscored the central bank’s stance on pausing interest rate hikes.

The greenback was down against the safe haven Japanese yen, with falling 0.5% to 109.73. slipped 0.1% to 1.1142 and rose 0.5% to 1.3488.

Meanwhile, the pound was under pressure as chatter continued about the departure of U.K. Prime Minister Theresa May.

On Wednesday House of Commons leader Andrea Leadson resigned instead of introducing May’s revised Withdrawal Agreement bill. Many U.K. newspapers are reporting that May is expected to resign within the next few days, as her party has made it clear they do not agree with her Brexit bill.

fell 0.1% to 1.2645, while was up 0.1% to 0.8811.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Leave a Reply

Your email address will not be published. Required fields are marked *