U.S. dollar slips from 1-year high on weak data, consolidation
The dollar edged lower from a one-year high on Thursday in choppy trading, pressured a little bit by a rise in U.S. weekly jobless claims, with investors also consolidating gains after a steep rise the last few sessions.
The greenback overall has been supported by the spike in U.S. Treasury yields amid expectations the Federal Reserve will taper its monetary stimulus beginning in November even as global growth slows.
Thursday's economic data, though, dented some of the dollar's strength.
The dollar index , which measures the currency against a basket of six rivals, hit 94.504, its highest since Sept. 28 last year. It was last down 0.2% at 94.199.
For the month, the dollar ended up 1.7%, its second straight monthly gain. For the third quarter, the dollar rose 2%.
The dollar's recent gains came despite a political standoff in Washington over the U.S. debt ceiling that threatens to shut down much of the government.
The dollar hit 112.07 yen , the highest since February 2020. It was last down 0.5% at 111.36 yen, its biggest daily percentage fall since mid-August.
For the month of September, however, the dollar posted a 1.2% gain versus the yen, and a more modest 0.4% rise for the third quarter.
The euro was down 0.1% at $1.1586, after earlier hitting $1.1563,its lowest since July 2020.
Europe's single currency was down 1.9% against the dollar for the month and 2.2% weaker for the third quarter.
TREASURIES-Yields settle with stocks on mixed economic data, budget talks
U.S. Treasury yields fell on Thursday while stocks moved down amid mixed economic signals, as investors watched budget talks in Washington and rebalanced portfolios with the end of September.
The benchmark 10-year yield was down 1.7 basis points at 1.5219%. It reached as high as 1.557% on Thursday morning, then declined as investors sold off stocks and looked for safe havens.
Reference: Reuters
Reference: Reuters, CNBC
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