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Forex - Dollar regains ground, recovers from Yellen

Published 11/13/2015, 02:31 AM
© Reuters.  Dollar rises broadly vs. euro, yen
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Investing.com - The dollar regained ground on Friday, as it recovered from mild losses posted on Thursday after Federal Reserve Chair Janet Yellen gave no indications on a potential December rate hike.

USD/JPY held steady at 122.67.

The dollar weakened mildly after Fed Chair Janet Yellen gave no indications on the near-term outlook for the U.S. economy or monetary policy in a speech on Thursday.

Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 7 was unchanged from a week earlier at 276,000. Analysts had expected jobless claims to fall by 6,000 to 270,000.

The greenback still remained broadly supported as last week's strong U.S. employment data paved the way for the Federal Reserve to raise interest rates at its December meeting.

EUR/USD slid 0.31% to 1.0782.

Preliminary data on Friday showed that German gross domestic product rose 0.3% in the third quarter, in line with expectations and down from the previous quarter's growth rate of 0.4%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was rose 0.27% to 98.83, not far from Tuesday's seven-month highs of 99.60.

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