NEW YORK, Sept. 21 (Xinhua) — The U.S. dollar gained in late buying and selling on Thursday, because the U.S. weekly jobless claims dropped to an eight-month low and the labor market stays tight.
The dollar index, which measures the buck in opposition to six main friends, rose 0.23 % to 105.3620 in late buying and selling.
A report from the U.S. Bureau of Labor Statistics on Thursday confirmed that the preliminary claims for unemployment advantages dropped 20,000 to a seasonally adjusted 201,000 for the week ending Sept. 16, the bottom degree since January. The report additionally confirmed unemployment rolls in early September have been the smallest since January.
“This economy is just not showing any sign of slowing down which hints that inflation will not be coming back down to target,” mentioned Christopher Rupkey, chief economist at FWDBONDS. “The Federal Reserve was wise to keep another interest rate hike in their back pockets just in case, and it now looks like another rate hike is warranted.”
Also on Thursday, the Diffusion Index for present basic exercise of the Federal Reserve Bank of Philadelphia’s Manufacturing Survey declined sharply to -13.5 in September from 12 in August, however the figures are not having a noticeable influence on the U.S. dollar.
Meanwhile, the Bank of England (BoE) and the Swiss National Bank left rates of interest unchanged on Thursday. Most economists have been anticipating the 2 banks to hike charges by one other 25 foundation factors since inflation stays at an elevated degree in Britain and Switzerland.
“Inflation has fallen a lot in recent months, and we think it will continue to do so,” Andrew Bailey, the governor of BoE, mentioned in an announcement. “But there is no room for complacency.”
In late New York buying and selling, the euro was right down to 1.0662 U.S. {dollars} from 1.0686 {dollars} within the earlier session, and the British pound decreased to 1.2291 U.S. {dollars} from 1.2362 {dollars}.
The U.S. dollar purchased 147.5180 Japanese yen, decrease than 147.9800 Japanese yen of the earlier session. The U.S. dollar rose to 0.9040 Swiss francs from 0.8969 Swiss francs, and it elevated to 1.3469 Canadian {dollars} from 1.3437 Canadian {dollars}. The U.S. dollar was as much as 11.1616 Swedish krona from 11.0915 Swedish krona.