Investing.com - The dollar was little changed on Thursday after upbeat U.S. economic reports, as investors remained on the sidelines ahead of a speech by Federal Reserve Chair Janet Yellen, scheduled for Friday.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.73
The Labor Department reported that the number of people filing claims for unemployment benefits fell to a five week low of 261,000 last week. Economists had expected a slight increase.
A separate report showed that U.S. orders for long lasting manufactured goods rebounded by a larger-than-expected 4.4% in July, recovering all of the previous months loss.
Traders were turning their attention to a speech by Fed Chair Janet Yellen at the Jackson Hole central bank symposium on Friday, for indications on the future path of U.S. interest rates.
Investors are waiting to see if Yellen will restate the hawkish view of the U.S. economy expressed by Fed officials in recent weeks or echo the minutes of the Fed’s July meeting, which indicated that officials are divided on when to raise rates.
The U.S. central bank raised interest rates for the first time in almost a decade in December.
Expectations of higher interest rates typically boost the dollar by making it more attractive to yield seeking investors.
The euro was slightly higher, with EUR/USD up 0.18% at 1.1285.
The dollar edged higher against the yen, with USD/JPY easing up to 100.57.
Sterling was weaker, with GBP/USD down 0.38% to 1.3182.