Dollar extends gains versus yen after U.S. data

NEW YORK Thu Jan 17, 2013 8:44am EST

NEW YORK Jan 17 (Reuters) - The dollar extended gains versus the Japanese yen and pared losses versus the euro on Thursday after data gauging the state of the U.S. housing and labor market.

The number of Americans filing new claims for unemployment benefits tumbled to a five-year low last week, a hopeful sign for the sluggish labor market.

Meanwhile, groundbreaking to build new U.S. homes accelerated in December to its fastest pace in over four years.

The dollar last traded at 89.48 yen, up 1.2 percent on the day. It had been trading at 89.34 before the release of the data.

The euro last traded at $1.3354, still up 0.5 percent on the day. It had been trading at $1.3374 before the release of the data, according to Reuters data.

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