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The dollar continued its assault on the euro Thursday, bolstered by lingering concerns about the sustainability of the global economic recovery.
Stocks fell further on Wall Street despite decent corporate earnings, fueling increased risk aversion and interest in the dollar and yen, which are regarded as safe haven currencies.
Evidence of weakness in the US jobs market failed to hurt the dollar. First time claims for unemployment benefits showed a modest decrease in the week ended January 23rd, according to a report released by the Labor Department on Thursday, although economists had been expecting a more substantial decrease.
The report showed that initial jobless claims slipped to 470,000 from the previous week's revised figure of 478,000.
Debt problems in Greece and Spain have soured traders on the euro, helping the dollar rise to a 6-month high of 1.3935. With the advance, the dollar extended its strong move away from November's 15-month low near 1.5100.
Officials from France and Germany on Thursday denied reports that a support package for Greece is being planned.
Meanwhile, ratings agency S&P put out comments indicating that UK banks was are no longer among the most stable in the world. The dollar rebounded from early losses versus the sterling on the news, rising to 1.6150. The pair has been moving with in a cent or two of that mark for the past week.
The dollar rallied in mid-day dealing against the loonie as the price of oil slipped toward $73 a barrel. The buck was at C$1.0650, staying near yesterday's monthly high of C$1.0690.
Against the yen, the dollar failed to sustain its early gains, easing back below Y90.
In other economic news, the US Commerce Department released a report on Thursday showing that new orders for durable goods rebounded in December following two consecutive monthly decreases. However, the increase in orders was much smaller than economists had been anticipating.
The report showed that durable goods orders edged up by 0.3 percent in December after falling by a revised 0.4 percent in November.
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