The dollar rose against a basket of major currencies, Thursday, after the publication of new jobless claims data in the United States that may pave the way for the US Federal Reserve to stop raising interest rates.
The number of Americans filing new applications for unemployment benefits last week jumped to the highest level since late 2021, indicating that higher interest rates are beginning to weigh on the labor market.
However, the labor market remains strong, with 1.6 jobs created for every unemployed person in March.
The dollar index, which measures the performance of the US currency against six major currencies, reached 101.92, up 0.7 percent.
As for the pound sterling, which pared losses earlier after the Bank of England raised interest rates for the twelfth time in a row, it fell 0.8 percent to $1.2522.
The euro reached $1.0904 in its latest trading, down 0.6 percent, and fell to its lowest level in three weeks, after Chinese data showed more signs of a slowdown in the post-Corona recovery.
2023-05-11 15:09:18
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