Investing.com - The dollar pushed higher against the euro on Thursday, as concerns over political deadlock in Italy continued to weigh on demand for the single currency, and was little changed against the yen.
During European morning trade, the dollar was higher against the euro, with EUR/USD down 0.15% to 1.3116.
Sentiment on the euro was hit by growing expectations that fresh elections would be held in Italy as hopes that a coalition government could be formed faded.
In Germany, official data showed that the number of people unemployed fell by 3,000 to 2.9 million in February, slightly below expectations for a decline of 5,000, while the unemployment rate held steady at 6.9%.
Elsewhere in the euro zone, revised data showed that Spain’s economy contracted by 0.8% in the fourth quarter, from an initial estimate for a 0.7% contraction, bringing the annual rate of contraction to 1.9%.
Elsewhere, the dollar was little changed against the yen, with USD/JPY dipping 0.07% to 92.16.
Earlier Thursday, Japan’s Prime Minister Shinzo Abe nominated Asian Development Bank President Haruhiko Kuroda to be the next governor of the Bank of Japan.
Mr. Kuroda, a proponent of aggressive monetary easing, will replace current BOJ Governor Masaaki Shirakawa, whose policies Prime Minister Abe has criticized for not doing enough to combat deflation.
The greenback was steady close to 31-month highs against the pound, with GBP/USD edging down 0.02% to 1.5154 and was almost unchanged against the Swiss franc, with USD/CHF inching up 0.01% to 0.9297.
In Switzerland, official data showed that the economy expanded by 0.2% in the fourth quarter, defying expectations for a contraction of 0.3%.
The greenback was broadly lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD dipping 0.01% to 1.0229, AUD/USD rising 0.31% to 1.0265 and NZD/USD climbing 0.44% to 0.8319.
The New Zealand dollar was boosted after the ANZ business confidence index improved to 39.4 in February, from a reading of 22.7 the previous month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.10% to 81.68.
The U.S. was to release revised data on fourth quarter growth and the weekly report on initial jobless claims later in the trading day.
During European morning trade, the dollar was higher against the euro, with EUR/USD down 0.15% to 1.3116.
Sentiment on the euro was hit by growing expectations that fresh elections would be held in Italy as hopes that a coalition government could be formed faded.
In Germany, official data showed that the number of people unemployed fell by 3,000 to 2.9 million in February, slightly below expectations for a decline of 5,000, while the unemployment rate held steady at 6.9%.
Elsewhere in the euro zone, revised data showed that Spain’s economy contracted by 0.8% in the fourth quarter, from an initial estimate for a 0.7% contraction, bringing the annual rate of contraction to 1.9%.
Elsewhere, the dollar was little changed against the yen, with USD/JPY dipping 0.07% to 92.16.
Earlier Thursday, Japan’s Prime Minister Shinzo Abe nominated Asian Development Bank President Haruhiko Kuroda to be the next governor of the Bank of Japan.
Mr. Kuroda, a proponent of aggressive monetary easing, will replace current BOJ Governor Masaaki Shirakawa, whose policies Prime Minister Abe has criticized for not doing enough to combat deflation.
The greenback was steady close to 31-month highs against the pound, with GBP/USD edging down 0.02% to 1.5154 and was almost unchanged against the Swiss franc, with USD/CHF inching up 0.01% to 0.9297.
In Switzerland, official data showed that the economy expanded by 0.2% in the fourth quarter, defying expectations for a contraction of 0.3%.
The greenback was broadly lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD dipping 0.01% to 1.0229, AUD/USD rising 0.31% to 1.0265 and NZD/USD climbing 0.44% to 0.8319.
The New Zealand dollar was boosted after the ANZ business confidence index improved to 39.4 in February, from a reading of 22.7 the previous month.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.10% to 81.68.
The U.S. was to release revised data on fourth quarter growth and the weekly report on initial jobless claims later in the trading day.