NEW YORK, Dec. 7 (Xinhua) — The U.S. dollar misplaced floor in late buying and selling on Thursday, after combined stories supported economists’ views that the Federal Reserve was doubtless finished elevating rates of interest this cycle.
The dollar index, which measures the buck in opposition to six main friends, decreased 0.59 % to 103.5443 in late buying and selling.
Initial claims for the U.S. unemployment advantages rose 1,000 to a seasonally adjusted 220,000 for the week ending Dec. 2, the Labor Department mentioned on Thursday. The information additionally confirmed unemployment rolls declining in late November after the so-called persevering with claims hit a two-year excessive in the course of the month.
“Looking past the noise, initial claims remain at a level that is consistent with relatively low layoffs,” mentioned Nancy Vanden Houten, lead U.S. economist at Oxford Economics. The U.S. bond yields have been down after the stories, with the 2-year yield at 4.60 %, whereas each the 5-year and 10-year yields stood at 4.12 %.
The eurozone economic system unexpectedly stalled within the third quarter of 2023, because the gross home product (GDP) within the previous continent confirmed no growth or development within the three months to September of this 12 months. In late New York buying and selling, the euro was as much as 1.0798 {dollars} from 1.0769 {dollars} within the earlier session, and the British pound was as much as 1.2591 {dollars} from 1.2560 {dollars} within the earlier session.
The U.S. dollar purchased 143.4850 Japanese yen, decrease than 147.3640 Japanese yen of the earlier session, because the Japanese policymakers hinted the Bank of Japan (BOJ) might shift away from its ultra-low rate of interest plan.
In late New York buying and selling, the U.S. dollar was all the way down to 0.8745 Swiss francs from 0.8747 Swiss francs, and it was as much as 1.3595 Canadian {dollars} from 1.3587 Canadian {dollars}. The U.S. dollar decreased to 10.3816 Swedish kronor from 10.4735 Swedish kronor.