NEW YORK, June 14 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