Fri, 22 Jan 2021

U.S. dollar weakens amid downbeat economic data

Xinhua
26 Nov 2020, 06:59 GMT+10

NEW YORK, Nov. 25 (Xinhua) -- The U.S. dollar dipped in late trading on Wednesday as market participants digested newly-released economic data.

The dollar index, which measures the greenback against six major peers, decreased 0.25 percent at 91.9985.

In late New York trading, the euro increased to 1.1915 U.S. dollars from 1.1883 dollars in the previous session, and the British pound was up to 1.3381 dollars from 1.3352 U.S. dollars in the previous session. The Australian dollar increased to 0.7364 U.S. dollar from 0.7354 dollar.

The U.S. dollar bought 104.42 Japanese yen, lower than 104.56 Japanese yen of the previous session. The U.S. dollar fell to 0.9086 Swiss franc from 0.9119 Swiss franc, and it was down to 1.2999 Canadian dollars from 1.3004 Canadian dollars.

On the data front, U.S. initial jobless claims, a rough way to measure layoffs, rose to 778,000 in the week ending Nov. 21, following an upwardly revised 748,000 in the prior week, the Department of Labor reported on Wednesday. Economists polled by Dow Jones expected initial jobless claims to come in at 733,000.

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