The dollar drifted higher against a basket of currencies in choppy trading on Thursday while the euro fell as risk appetite dimmed once again with stocks volatile and investors buying U.S. Treasuries.
Earlier in the session, the greenback slid in the wake of weaker-than-expected U.S. jobless claims data that raised concerns about the world’s largest economy’s recovery from the pandemic.
The euro, on the other hand, was firmer earlier in the day after the European Central Bank met expectations by pledging to keep interest rates at record lows for even longer.
In early afternoon trading, the euro was down 0.2% against the dollar at $1.1763. On Wednesday, it hit a 3-1/2-month low of $1.1752.
The dollar index, meanwhile, rose 0.1% to 92.87, as the impact of the softer-than-expected U.S. jobless claims data faded.
The gains in higher-risk assets come after robust company earnings lifted Wall Street and European bourses, allowing investors to look past concerns that the Delta Covid-19 variant would dampen the economic recovery.
Sterling firmed 0.2% to $1.3768, recovering from 5-1/2-month troughs, while in cryptocurrencies, bitcoin rose after Wednesday’s 7.9% jump - the biggest since mid-June. It was last up 0.9% at $32,448.
The dollar slipped 0.1% against the yen, another safe haven, to 110.14 yen.
Reference: CNBC
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