Investing.com – The U.S. dollar was broadly lower against the other major currencies on Thursday, following the release of mixed U.S. data on initial jobless claims and inflation.
During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 0.68% to hit 1.4058.
Earlier Thursday, official data showed that while U.S. initial jobless claims rose more-than-expected in the week ending October 9, a separate report said that producer price inflation rose-more-than expected in September.
The greenback was also down against the pound and the Swiss franc, with GBP/USD rising 0.53% to hit 1.5983 and USD/CHF falling 0.47% to hit 0.9535.
In addition, the greenback was down against the yen, with USD/JPY shedding 0.43% to hit 81.45.
Earlier in the day, Japanese Prime Minister Naoto reiterated that the government would take decisive steps on foreign exchange if necessary, saying "Our policy that sharp changes in foreign exchange are not desirable remains unchanged. If absolutely necessary, decisive steps will be taken".
Meanwhile, the greenback was also down against its Australian counterpart but gained against its Canadian and New Zealand cousins, with AUD/USD climbing 0.32% to hit 0.9937 while USD/CAD rose 0.15% to hit 1.0051 and NZD/USD shed 0.24% to hit 0.7586.
Earlier in the day, official data official data showed that Canada’s trade deficit contracted more-than-expected in August while a separate report showed that New Zealand’s retail sales remained unexpectedly flat in August.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.51%.
Also Thursday, Singapore’s central bank tightened monetary policy in a surprise move, broadening the range of the Singapore dollar's trading band. The move increased pressure on the U.S. dollar which has weakened amid expectations that the Federal Reserve could begin to implement further monetary easing as soon as next month.
During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 0.68% to hit 1.4058.
Earlier Thursday, official data showed that while U.S. initial jobless claims rose more-than-expected in the week ending October 9, a separate report said that producer price inflation rose-more-than expected in September.
The greenback was also down against the pound and the Swiss franc, with GBP/USD rising 0.53% to hit 1.5983 and USD/CHF falling 0.47% to hit 0.9535.
In addition, the greenback was down against the yen, with USD/JPY shedding 0.43% to hit 81.45.
Earlier in the day, Japanese Prime Minister Naoto reiterated that the government would take decisive steps on foreign exchange if necessary, saying "Our policy that sharp changes in foreign exchange are not desirable remains unchanged. If absolutely necessary, decisive steps will be taken".
Meanwhile, the greenback was also down against its Australian counterpart but gained against its Canadian and New Zealand cousins, with AUD/USD climbing 0.32% to hit 0.9937 while USD/CAD rose 0.15% to hit 1.0051 and NZD/USD shed 0.24% to hit 0.7586.
Earlier in the day, official data official data showed that Canada’s trade deficit contracted more-than-expected in August while a separate report showed that New Zealand’s retail sales remained unexpectedly flat in August.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.51%.
Also Thursday, Singapore’s central bank tightened monetary policy in a surprise move, broadening the range of the Singapore dollar's trading band. The move increased pressure on the U.S. dollar which has weakened amid expectations that the Federal Reserve could begin to implement further monetary easing as soon as next month.