The US Dollar Falls Amid Economic Statistics

The US Dollar Falls Amid Economic Statistics

NEW YORK, Feb. 16 (Xinhua) — The U.S. dollar edged lower in late trade on Thursday as market participants digested recently released economic data.

The dollar index, which measures the greenback against six major peers, fell 0.03 percent to 103.8780.

In late New York trading, the euro was up at US$1.0687 from US$1.0683 in the previous session, and the British pound was down at US$1.2010 from US$1.2023 in the previous session.

The US dollar bought 133.85 Japanese yen, down from 134.15 Japanese yen from the previous session. The US dollar rose to 0.9244 Swiss francs from 0.9243 Swiss francs and it climbed to 1.3429 Canadian dollars from 1.3399 Canadian dollars. The US dollar fell to SEK 10.4317 from SEK 10.4396.

The US Labor Department reported on Thursday that the country’s producer price index, a measure of inflation from the point of view of industry and business, jumped 0.7 percent in January, its biggest increase since last June and well above consensus of 0.4 percent.

Meanwhile, a separate Labor Department report showed U.S. initial jobless claims, a rough measure of layoffs, fell by 1,000 to 194,000 for the week ended Feb. 11. Economists polled by The Wall Street Journal had predicted new applications would total 200,000.


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