Investing.com - The U.S. dollar was lower against its major counterparts on Thursday, following the release of a string of broadly better-than-forecast U.S. data, as markets took stock of an apparent shift in attitude towards the dollar amid signs that the U.S. economic recovery is gaining momentum.
During European afternoon trade, the dollar was slightly lower against the euro, with EUR/USD adding 0.18% to hit 1.3055.
The Department of Labor said number of people who filed for unemployment assistance in the U.S. last week fell to a seasonally adjusted 351,000, beating expectations for a decline to 356,000.
Elsewhere, the New York Federal Reserve said its index of manufacturing conditions improved unexpectedly in March, climbing to the highest level since June 2010.
A separate report showed that U.S. producer price inflation rose slightly less-than-expected in February, increasing by a seasonally adjusted 0.4%, below expectations for a 0.5% gain, while core producer prices rose 0.2% last month, in line with expectations.
The data underlined the view that the U.S. economic recovery is gathering momentum, after the Federal Reserve upgraded its outlook on the economy earlier this week, causing investors to trim back expectations for a third round of quantitative easing.
The greenback was slightly higher against the pound, with GBP/USD slipping 0.05% to hit 1.5666.
Sentiment on sterling was dented after ratings agency Fitch placed the U.K.’s triple-A credit rating on negative outlook late Wednesday, warning that there is a slightly greater than 50% chance of a downgrade in the next two years, if the government eases back on implementing harsh austerity measures.
The greenback was lower against the Swiss franc, with USD/CHF shedding 0.48% to hit 0.9259.
The Swiss franc found support after the Swiss National Bank kept its minimum exchange rate floor of 1.20 per euro unchanged, following its monetary policy meeting earlier.
The greenback pulled back from an 11-month high against the yen, with USD/JPY dropping 0.50% to hit 83.28.
The yen has come under pressure since last month’s surprise decision by the Bank of Japan to ease monetary policy and set a targeted inflation rate, while the country’s increasing trade deficit has threatened the yen’s traditional safe haven status.
Earlier this week, the BoJ held off announcing any fresh easing measures following its policy meeting, but enlarged a loan fund for businesses in “high-growth” sectors, indicating that the central bank has not moved away from an easing policy.
Elsewhere, the greenback was almost unchanged against its Canadian counterpart, but weakened against its Australian and New Zealand cousins, with USD/CAD dipping 0.02% to hit 0.9924, AUD/USD climbing 0.60% to hit 1.0514 and NZD/USD rallying 0.90% to hit 0.8165.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.24% to hit 80.78.
Later in the day, the U.S. was to publish official data on manufacturing activity in Philadelphia.
During European afternoon trade, the dollar was slightly lower against the euro, with EUR/USD adding 0.18% to hit 1.3055.
The Department of Labor said number of people who filed for unemployment assistance in the U.S. last week fell to a seasonally adjusted 351,000, beating expectations for a decline to 356,000.
Elsewhere, the New York Federal Reserve said its index of manufacturing conditions improved unexpectedly in March, climbing to the highest level since June 2010.
A separate report showed that U.S. producer price inflation rose slightly less-than-expected in February, increasing by a seasonally adjusted 0.4%, below expectations for a 0.5% gain, while core producer prices rose 0.2% last month, in line with expectations.
The data underlined the view that the U.S. economic recovery is gathering momentum, after the Federal Reserve upgraded its outlook on the economy earlier this week, causing investors to trim back expectations for a third round of quantitative easing.
The greenback was slightly higher against the pound, with GBP/USD slipping 0.05% to hit 1.5666.
Sentiment on sterling was dented after ratings agency Fitch placed the U.K.’s triple-A credit rating on negative outlook late Wednesday, warning that there is a slightly greater than 50% chance of a downgrade in the next two years, if the government eases back on implementing harsh austerity measures.
The greenback was lower against the Swiss franc, with USD/CHF shedding 0.48% to hit 0.9259.
The Swiss franc found support after the Swiss National Bank kept its minimum exchange rate floor of 1.20 per euro unchanged, following its monetary policy meeting earlier.
The greenback pulled back from an 11-month high against the yen, with USD/JPY dropping 0.50% to hit 83.28.
The yen has come under pressure since last month’s surprise decision by the Bank of Japan to ease monetary policy and set a targeted inflation rate, while the country’s increasing trade deficit has threatened the yen’s traditional safe haven status.
Earlier this week, the BoJ held off announcing any fresh easing measures following its policy meeting, but enlarged a loan fund for businesses in “high-growth” sectors, indicating that the central bank has not moved away from an easing policy.
Elsewhere, the greenback was almost unchanged against its Canadian counterpart, but weakened against its Australian and New Zealand cousins, with USD/CAD dipping 0.02% to hit 0.9924, AUD/USD climbing 0.60% to hit 1.0514 and NZD/USD rallying 0.90% to hit 0.8165.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.24% to hit 80.78.
Later in the day, the U.S. was to publish official data on manufacturing activity in Philadelphia.