NEW YORK, Aug. 17 (Xinhua) — The U.S. dollar rose on Thursday, as U.S. jobless claims functions fell and the labor market confirmed resilience.
The dollar index, which measures the buck towards six main friends, rose 0.13 % to 103.5739 in late buying and selling.
Applications for unemployment advantages dropped by 11,000 to 239,000 for the week ending Aug. 12, down from 250,000 the earlier week, the Labor Department reported Thursday.
The U.S. dollar was swinging between beneficial properties and losses after the report, earlier than it was influenced by surging U.S. Treasury yields and hit a two-month excessive of 103.59.
“The labor markets are not imploding,” stated Christopher Rupkey, chief economist at FWDBONDS. “The economy may be heating up instead of cooling down as the monetary medicine of higher 5.5 percent interest rates is not slowing aggregate demand like the economics textbooks say it should.”
A separate report confirmed that U.S. e-commerce retail gross sales for the second quarter rose 2.1 % quarter over quarter to 277.6 billion U.S. {dollars}, trailing the prior quarter’s 3 % climb, the U.S. Census Bureau stated Thursday.
In late New York buying and selling, the euro decreased to 1.0857 U.S. {dollars} from 1.0879 {dollars} within the earlier session, and the British pound elevated to 1.2728 U.S. {dollars} from 1.2725 {dollars}.
Despite a pointy drop in Britain’s headline inflation price, key measures of value development monitored by the Bank of England did not ease in July, boosting bets that the financial institution will maintain charges larger for longer.
The U.S. dollar purchased 146.0890 Japanese yen, decrease than 146.2300 Japanese yen of the earlier session. The U.S. dollar was right down to 0.8797 Swiss francs from 0.8800 Swiss francs, and it was as much as 1.3546 Canadian {dollars} from 1.3535 Canadian {dollars}. The U.S. dollar rose to 10.9363 Swedish krona from 10.9211 Swedish krona.