Dollar Rises As U.S. Jobless Claims Increase Less-than-expected

23:58, 17th April 2014

(RTTNews) - The U.S. dollar rose against other major currencies in New York deals on Thursday after nation's jobless claims rebounded less-than-forecast in the week ended April 12th.

The Labor Department said today that initial jobless claims inched up to 304,000, an increase of 2,000 from the previous week's revised level of 302,000. Economists had expected jobless claims to climb to 315,000 from the 300,000 originally reported for the previous week

After falling to a 3-day low of 0.8778 against the franc earlier, the greenback moved up with pair trading around 0.8799. The greenback-franc pair ended Wednesday's trading at 0.8818.

The greenback that touched a multi-year low of 1.6842 against the pound in early deals climbed to 1.6798 following the data. The greenback is likely to seek resistance at the 1.66 mark.

Reversing from an early 6-day low of 1.3865 against the euro, the greenback rose back and was trading around 1.3840. At Wednesday's close, the pair was worth 1.3816.

Having fallen to 101.87 against the yen in Asian deals, the greenback remained higher in subsequent trading. The pair was trading at 102.16, around where it finished Wednesday's New York deals.