Investing.com – The U.S. dollar was broadly higher against its major rivals on Thursday, after the release of a string of stronger-than-expected U.S. data and as the euro lost support following remarks by European Central Bank head, Jean-Claude Trichet.
During European late afternoon trade, the greenback was sharply higher against the euro, with EUR/USD plunging 1.2% to hit 1.3643.
Earlier in the day, the ECB chief said that at 1.0%, the banks policy rate remained "appropriate" but added that "very close monitoring" of price developments was "warranted."
The greenback was also up against the pound, with GBP/USD shedding 0.36% to hit 1.6132.
Data released earlier showed that the U.K. services sector rebounded sharply in January as business recovered from December’s snow-related disruption.
Elsewhere, the greenback was up against the yen and the Swiss franc, with USD/JPY easing up 0.03% to hit 81.59 and USD/CHF surging 0.7% to hit 0.9465.
Earlier Thursday, official data showed that Switzerland’s trade surplus contracted unexpectedly in December.
Meanwhile, the greenback was up against its Canadian and New Zealand counterparts but down against its Australian cousin, with USD/CAD rising 0.23% to hit 0.99, NZD/USD slipping 0.03% to hit 0.7728 and AUD/USD climbing 0.21% to hit 1.0122.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.78%.
Earlier in the day, the Institute for Supply Management said that the U.S. services sector grew in January at its fastest pace since August 2005 while U.S. government data showed that the number of people claiming initial jobless benefits fell more-than-expected last week.
A separate report showed that U.S. labor productivity rose more-than-expected in the fourth quarter while unit labor costs declined unexpectedly.
Later in the day, the chairman of the Federal Reserve, Ben Bernanke was to speak at a public engagement.
During European late afternoon trade, the greenback was sharply higher against the euro, with EUR/USD plunging 1.2% to hit 1.3643.
Earlier in the day, the ECB chief said that at 1.0%, the banks policy rate remained "appropriate" but added that "very close monitoring" of price developments was "warranted."
The greenback was also up against the pound, with GBP/USD shedding 0.36% to hit 1.6132.
Data released earlier showed that the U.K. services sector rebounded sharply in January as business recovered from December’s snow-related disruption.
Elsewhere, the greenback was up against the yen and the Swiss franc, with USD/JPY easing up 0.03% to hit 81.59 and USD/CHF surging 0.7% to hit 0.9465.
Earlier Thursday, official data showed that Switzerland’s trade surplus contracted unexpectedly in December.
Meanwhile, the greenback was up against its Canadian and New Zealand counterparts but down against its Australian cousin, with USD/CAD rising 0.23% to hit 0.99, NZD/USD slipping 0.03% to hit 0.7728 and AUD/USD climbing 0.21% to hit 1.0122.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.78%.
Earlier in the day, the Institute for Supply Management said that the U.S. services sector grew in January at its fastest pace since August 2005 while U.S. government data showed that the number of people claiming initial jobless benefits fell more-than-expected last week.
A separate report showed that U.S. labor productivity rose more-than-expected in the fourth quarter while unit labor costs declined unexpectedly.
Later in the day, the chairman of the Federal Reserve, Ben Bernanke was to speak at a public engagement.