US dollar rises after jobless data

The U.S. dollar increased against most major currencies on Friday as recent upbeat economic data eased market concerns for the country's sluggish economic growth.

The U.S. Labor Department reported Thursday that in the week ending June 4, the advance figure for seasonally adjusted initial jobless claims was 264,000, a decrease of 4,000 from the previous week's revised level. The latest reading was also below market consensus of 270,000.

The positive jobless data eased some worries about the U.S. economic growth decelerating in the second quarter.

The dollar index, which measures the greenback against six major peers, was up 0.66 percent at 94.576 in late trading on Friday.

Analysts said the greenback would hold in a narrow range ahead of the Federal Reserve's June policy meeting next week.

In late New York trading, the euro dipped to 1.1261 dollars from 1.1326 dollars of the previous session, and the British pound decreased to 1.4257 dollars from 1.4471 dollars. The Australian dollar went down to 0.7380 dollars from 0.7440 dollars.

The dollar bought 106.71 Japanese yen, lower than 106.75 yen of the previous session. The dollar climbed to 0.9639 Swiss francs from 0.9638 Swiss francs, and it inched up to 1.2765 Canadian dollars from 1.2721 Canadian dollars.

source : xinhua