U.S. dollar slips amid economic data

Xinhua
14 Jan 2022, 06:55 GMT+10

NEW YORK, Jan. 13 (Xinhua) -- The U.S. dollar weakened in late trading on Thursday as market participants digested a slew of economic data.

The dollar index, which measures the greenback against six major peers, decreased 0.13 percent at 94.7989.

In late New York trading, the euro rose to 1.1460 U.S. dollars from 1.1448 dollars in the previous session, and the British pound increased to 1.3718 dollars from 1.3711 U.S. dollars in the previous session. The Australian dollar decreased to 0.7288 U.S. dollar from 0.7290 dollar.

The U.S. dollar bought 114.06 Japanese yen, lower than 114.40 Japanese yen of the previous session. The U.S. dollar fell to 0.9107 Swiss franc from 0.9135 Swiss franc, and it fell to 1.2488 Canadian dollars from 1.2501 Canadian dollars.

On the data front, the U.S. Labor Department said on Thursday that the nation's producer price index, also U.S. wholesale prices, rose 0.2 percent in December, the smallest increase in 13 months. The increase fell short of the 0.4-percent forecast by economists.

Meanwhile, a separate report by the Labor Department showed U.S. initial jobless claims, a rough way to measure layoffs, rose by 23,000 to 230,000 in the week ending Jan. 8. Economists polled by The Wall Street Journal had estimated new claims would slip to 200,000.

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