FOREX-Dollar falls vs yen and euro after US jobless claims data
NEW YORK, June 14 |
NEW YORK, June 14 (Reuters) - The dollar hit a session low against the yen and extended losses against the euro after U.S. data showed the number of Americans filing new claims for unemployment benefits unexpectedly rose last week.
The dollar hit a low of 79.14 yen, a two day low, according to Reuters data. It had been trading at 79.28 before the data and last traded at 79.24, down 0.2 percent on the day.
The euro rose as high as $1.2582 versus $1.2558 before the data. It last traded at $1.2578, up 0.2 percent on the day, according to Reuters data.
The jobless claims data suggested persistent weakness in the labor market after stumbling badly in recent months.
"A higher number on claims which is obviously continuing to be a focal point for the market," said George Davis, chief technical analyst at RBC Capital Markets in Toronto.
"That will be a mild bearish factor for the dollar over the short term. I don't think CPI will have a huge market impact as inflation right now is not the focus. The main concern is still in the employment area."
Separate data showed U.S. consumer prices fell in May by the most in over three years, possibly giving the U.S. Federal Reserve more room to help an economy that is showing signs of weakening.
- Tweet this
- Share this
- Digg this