U.S. Dollar Up Again

NEW YORK (AFP) - U.S. Dollar rose on Thursday after data showed a decline in unemployment claims and the `flooding` strong corporate earnings reports.
The euro was changing hands at 1.3918 dollars around 2100 GMT, down from 1.3995 dollars late on Wednesday.

The dollar also rose against the Japanese currency, to 81.29 yen from 81.12 yen on Wednesday.

U.S. Labor Department reported that new claims for unemployment benefits fell last week to 452,000, offers a glimmer of hope even though unemployment remains at high levels.

Number of positive earnings reports from market heavyweight in recent days, further increasing confidence in the U.S. economy and its currency.

The greenback continued to decline in recent weeks as investors focused on expectations of new asset purchases by the U.S. Federal Reserve to boost the flagging economy, which effectively means printing money.

Wells Fargo analyst, Nick Bennenbroek also pointed to the increasing anxiety ahead of a weekend meeting of finance ministers and central bank governors of the G20, where the currency will be a hot topic of discussion.

`We can look back and forward trading continued into the weekend, while we will rely on the direction of the dollar's weakness when the meeting was extraordinary,` he said.

In late New York trading, the British pound was taken at 1.5700 dollars, down from 1.5845 on Wednesday.

Dollar rose to 0.9675 Swiss francs from 0.9623.

By : Nick Bennenbroek (Analyst) Source : Antara