Home / Business Tools: Save | Print | E-mail | Most Read | Comment
Dollar rises against major currencies on weak data
Adjust font size:

The dollar rose against most major currencies on Thursday as U.S. unemployment claims increased and leading economic indicator fell.

The U.S. Labor Department reported on Thursday that new applications for jobless benefits rose to a seasonally adjusted 542,000, from 515,000 in the previous week. The reading last week was a record high in 16 years, while analysts expected it would drop to 505,000.

The four-week average of claims rose to 506,500, the highest in more than 25 years. The number of people continuing to claim unemployment insurance rose to more than four million, the highest since December 1982.

The U.S. Federal Reserve released projections on Wednesday that the jobless rate will climb to 7.1 percent to 7.6 percent next year. The unemployment rate stood at 6.5 percent in October. Some analysts expected it would jump to 8 percent by the end of 2009.

The Conference Board reported that U.S. leading economic index fell 0.8 percent in October, worse than the 0.6 percent decrease expected by analysts. The index is designed to predict economic activity six to nine months in to the future.

The euro bought 1.2501 dollars in late New York trading compared with 1.2602 dollars it bought late Wednesday. The pound fell to 1.4812 dollars from 1.5025 dollars.

The dollar rose to 1.2233 Swiss francs from 1.2102 Swiss francs, and fell to 94.79 Japanese yen from 96.37 Japanese yen. It rose to1.2842 Canadian dollars from 1.2483 Canadian dollars.

(Xinhua News Agency November 21, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Dollar falls as US inflation eases
- Dollar rises as US government refuses to buy bank assets
- Dollar rises to upper 94 yen level in Tokyo
Most Viewed >>
- Global car giants bet heavily on China
- China ranks No.1 holder of US bonds
- Shanghai Disneyland 'certain' to go ahead
- China to overhaul dairy industry
- The 6th China (Guangzhou) International Automobile Exhibition
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?