Dollar holds gains on weak data, Fed outlook
The U.S. dollar on Thursday afternoon was slightly lower on the day as rising technology stocks bolstered risk assets but held onto gains made Wednesday after less dovish-than-expected minutes from last month’s U.S. Federal Reserve policy meeting lifted the greenback off a two-year low.
Gains in Apple Inc, Amazon.com Inc and Microsoft Corp on Thursday drove higher the three main U.S. stock indexes. The risk-on move diminished demand for the dollar, which saw its index fall modestly in afternoon trade, last down 0.24% to 92.764.
The euro - the biggest beneficiary of dollar weakness - this week fell back below $1.19, though it was slightly higher on Thursday at $1.186.
Other safe havens like the Japanese yen, also benefited, last up 0.14% to 105.95 yen per dollar.
Weekly U.S. jobless claims on Thursday once again surged over 1 million, which helped the dollar solidify gains it made on Wednesday after less dovish-than-expected minutes from last month’s U.S. Federal Reserve policy meeting lifted the greenback off a two-year low.
Reference: CNBC, Reuters
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