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U.S. dollar edges down amid economic data

NEW YORK
2023-02-17 04:56

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NEW YORK, Feb. 16 (Xinhua) -- The U.S. dollar inched lower in late trading on Thursday as market participants digested newly-released economic data.

The dollar index, which measures the greenback against six major peers, decreased 0.03 percent to 103.8780.

In late New York trading, the euro was up to 1.0687 U.S. dollars from 1.0683 dollars in the previous session, and the British pound decreased to 1.2010 U.S. dollars from 1.2023 dollars in the previous session.

The U.S. dollar bought 133.85 Japanese yen, lower than 134.15 Japanese yen of the previous session. The U.S. dollar rose to 0.9244 Swiss francs from 0.9243 Swiss francs, and it climbed to 1.3429 Canadian dollars from 1.3399 Canadian dollars. The U.S. dollar decreased to 10.4317 Swedish Kronor from 10.4396 Swedish Kronor.

The U.S. Labor Department reported Thursday that the country's producer price index, a measure of inflation from the viewpoint of industry and business, jumped 0.7 percent in January, its biggest increase since last June and well above the 0.4 percent consensus.

Meanwhile, a separate report by the Labor Department showed that U.S. initial jobless claims, a rough way to measure layoffs, decreased by 1,000 to 194,000 for the week ending Feb. 11. Economists polled by The Wall Street Journal had forecast that new claims would total 200,000.
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