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U.S. dollar declines amid bearish view

NEW YORK
2017-08-25 08:43

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The U.S. dollar declined against most major currencies on Thursday as investors continued to hold bearish view of the dollar.

U.S. President Donald Trump said earlier this week that he would be willing to let the government shut down without appropriations for a border wall. He also expressed doubts whether the U.S. can reach a deal with Canada and Mexico over the North American Free Trade Agreement, adding that the U.S. government will "probably" terminate the trade agreement.

Analysts said Trump's remarks weighed on the market and that the dollar was driven down by market expectations that Trump may not be able to push forward his pro-growth agenda soon.

On the economic front, U.S. Labor Department reported on Thursday that in the week ending Aug. 19, the advance figure for seasonally adjusted initial jobless claims was 234,000, an increase of 2,000 from the previous week's unrevised level of 232,000.

The 4-week moving average was 237,750, a decrease of 2,750 from the previous week's unrevised average of 240,500.

The dollar index, which measures the greenback against six major peers, was up 0.09 percent at 93.230 in late trading.

In late New York trading, the euro fell to 1.1809 U.S. dollars from 1.1810 U.S. dollars, and the British pound climbed to 1.2804 U.S. dollars from 1.2800 U.S. dollars. The Australian dollar increased to 0.7907 U.S. dollar from 0.7900 U.S. dollar.

The U.S. dollar bought 109.36 Japanese yen, higher than 109.03 yen of the previous session. The U.S. dollar fell to 0.9645 Swiss franc from 0.9655 Swiss franc, and it edged down to 1.2525 Canadian dollars from 1.2553 Canadian dollars.
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