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The dollar hit the skids versus the sterling but fell no further against the euro on Thursday as traders sifted through a pile of economic data.
Focus remained on Wall Street as well, as the Dow hung around the psychologically important 10,000 mark and corporate earnings news rolled in.
Increased risk appetite has crippled the dollar versus higher-yielding currencies of late, with traders betting the interest rate gap between the US and other nations will rise.
The dollar plunged versus the sterling, dropping to 1.6300 from a 5-month high near 1.5700 set earlier this week. The sterling was boosted by comments from a BoE official hinting that the UK may unwind quantitative easing measures taken during the economic crisis.
Meanwhile, the dollar managed to steady against the euro, hovering near its yesterday's yearly low of 1.4967.
On the flip side, the dollar rose sharply versus the yen, jumping back above the 90 mark. With the advance, the dollar stayed away from a 1995 low of 87.08, set in January and tested a week ago.
Thursday morning, the Labor Department released its report on initial jobless claims in the week ended October 10th, showing that first-time claims for unemployment benefits decreased by a little more than economists had been expecting.
The report showed that jobless claims fell to 514,000 from the previous week's revised figure of 524,000.
Meanwhile, consumer prices edged higher in September, matching expectations, as a dip in food and rent prices helped moderate a continued rise in energy prices.
Core inflation heated up a bit, however, accelerating from August and coming in higher than expected.
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