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The dollar remained strong versus the slumping euro on Thursday, moving back toward last week's 9-month high as traders considered more evidence that US factories are leading an economic recovery that is picking up steam.
However, the dollar's gains were muted upon the release of data showing that jobless claims rose last week, offsetting some of the recent optimism about the outlook for the labor market.
The dollar rose to 1.3539 versus the euro, coming within a hair of 1.3531, its highest level since last May. The dollar has risen sharply over the past few months, rallying away from a 15-month low near 1.5100 amid concerns about euro area debt and sluggish growth.
The dollar also gained on the sterling Thursday, improving to 1.5580. Less than two weeks ago, the dollar hit a 9-month high of 1.5533.
The dollar advanced to its highest level in almost a month versus the yen, hitting 91.47 to extend a week long uptrend. Both currencies have been strong of late, support by risk aversion, but the dollar has become somewhat more attractive due to the prospect of a more robust US recovery.
The Bank of Japan maintained its key interest rate at near-zero as expected at the end of its two-day policy meeting on Thursday and held off for another month on unveiling further support measures to tackle deflation.
Back in the US, manufacturing conditions have continued to improve in the mid-Atlantic region in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the bank's index of manufacturing activity remaining positive for the sixth consecutive month.
The Philly Fed said its index of regional manufacturing activity rose to 17.6 in February from 15.2 in January, with a positive reading indicating growth in the sector. Economists had been expecting the index to increase to a reading of 17.0.
Meanwhile, a report from the Labor Department on Thursday showed that initial jobless claims rose to 473,000 from the previous week's revised figure of 442,000.
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