US dollar declines amid economic data

US dollar declines amid economic data

New York: The US dollar slipped against other major currencies as investors were digesting the latest economic data from the country.

In late New York trading on Thursday, the euro rose to $1.1953 from $1.1897, and the British pound climbed to $1.3443 from $1.3399. The Australian dollar increased to $0.7793 from $0.7775, Xinhua news agency reported.

The US dollar bought 112.87 Japanese yen, lower than 113.25 yen of the previous session.

The US dollar fell to 0.9781 Swiss franc from 0.9867 Swiss franc, and it edged down to 1.2582 Canadian dollars from 1.2643 Canadian dollars.

On the economic front, in the week ending December 23, the advance figure for seasonally adjusted initial claims was 245,000, unchanged from the previous week’s unrevised level, said the US Labor Department on Thursday.

The four-week moving average was 237,750, an increase of 1,750 from the previous week’s unrevised average of 236,000.

The US Commerce Department reported on Thursday that the international trade deficit stands at $69.7 billion in November, which was slightly up from the $68.1 billion deficit in October.

The dollar index, which measures the greenback against six major peers, was down 0.45 percent at 92.607 in late trading on Thursday.

IANS