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The dollar edges higher, initial jobless claims meet expectations

Published 06/22/2017, 01:35 PM
Updated 06/22/2017, 01:40 PM
© Reuters.

© Reuters.

Investing.com – The dollar traded roughly flat against a basket of global currencies on Thursday, after data showed initial jobless claims increased slightly last week.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.09% to 97.31.

The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market.

Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ended June 17, the Labor Department said on Thursday.

GBP/USD fell to $1.2666 but gains were pared later during the session, as investors appeared to take profit.

EUR/USD fell 019% to $1.1148, while EUR/GBP eased from $1.149 by 0.23% to 0.8802.

USD/CAD traded at C$13247, down 0 .67%, as a rise in oil prices bolstered demand for the oil-linked Canadian dollar.

The dollar traded roughly flat against its Japanese counterpart, with USD/JPY at Y111.37.

The greenback remains on track to end the week in positive after a flurry comments from Fed officials bolster expectations of an additional rate hike later this.

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