Dollar mixed as jobless claim rises

08:37, January 28, 2011      

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The U.S. dollar traded mixed against major currencies in late New York trading on Thursday as initial jobless claim in U.S. last week rose unexpectedly, hurting investors' faith in the economy.

The U.S. Labor Department said on Thursday that the number of people applying for jobless benefits spiked by 51,000 to 454,000 last week, much larger than previous economists' estimate of a rise to 408,000.

The agency claimed the increase was partly attributed to snow storms in early January.

Also, U.S. durable-goods orders in December failed to meet the markets' expectation. The Commerce Department said orders fell 2.5 percent, while economists had expected a 1 percent rise.

The euro surged to a two-month high of 1.3760 against the dollar in mid-day trading session on Thursday.

However, the dollar jumped against the Japanese yen as Japan's sovereign debt rating was downgraded.

The rating agency Standard &Poor's cut Japan's sovereign debt rating to AA minus from AA on Thursday, warning that Japan's government debt ratio would continue to rise more than it had previously expected.

The dollar climbed to near 83 against the yen in late trading session on Thursday.

The dollar index recovered to 77.827, from 77.776 on Wednesday.

In late Thursday trading, the dollar bought 82.82 yen, comparing with 82.45 late Wednesday, and the euro rose to 1.3729 dollars from 1.3687.

The British pound also rose to 1.5935 dollars from 1.5885. The dollar rose from 0.9438 to 0.9458 against Swiss francs, but fell to 0.9940 Canadian dollars from 0.9955.

Source: Xinhua
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