Dollar rises against major currencies amid mixed data

The dollar was mostly higher against major currencies on Thursday on a batch of mixed economic reports on U.S. economy.

The euro slipped back to the four-year low of 1.2112 dollars it touched earlier this week. Worries about the sovereign debt crisis in the euro zone and its impact on the banks in the area still weigh on the market. The 16-nation currency, seen as a sign of confidence that investors have in Europe's ability to deal with the debt crisis, has dropped about 15 percent against the green back so far this year.

A series of mixed economic reports lifted some investors' confidence in U.S. economic recovery. Latest data showed that the U.S. service activities continued expansion in May.

Meanwhile, first time jobless benefit applications fell for the second week, and payroll in private sector added in May. Though both data came short of forecasts, they still showed that the labor market is on slow recovery.

The euro dropped to 1.2182 dollars in late New York trading from 1.2238 dollars late Wednesday, and the British pound fell to 1.4633 dollars from 1.4648 dollars.

In other trading, the dollar rose to 92.68 Japanese yen from 92. 18 yen, slipped to 1.1549 Swiss francs from 1.1558 francs, but climbed to 1.0418 Canadian dollars from 1.0396 Canadian dollars late Wednesday.

Source:Xinhua