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US dollar weaker against major currencies

US dollar weaker against major currencies

The U.S. dollar fell against most other major currencies Thursday in thin year-end trading, but rose against the pound and yen.
Strong housing, employment and business activity reports pointed to an improving U.S. economy in 2011.
The number of people applying for unemployment benefits fell to its lowest point since July 2008, according to the Labor Department, the National Association of Realtors said the number of people who signed contracts to buy homes rose in November and the Institute for Supply Management-Chicago showed business activity in the U.S. Midwest rose in December.
The euro rose to $1.3268 from $1.3214 in low-volume trading at the end of the year. The British pound fell to $1.5390 from $1.5509 and the dollar rose to 81.74 Japanese yen from 81.63 yen a day earlier.
The dollar also fell to a 28-year low against the Australian currency, which has climbed this year as demand for Australia's iron ore and other commodities grows.
After peaking earlier at $1.0197, the Australian dollar fell to $1.0121 in midday trading from $1.0176 late Wednesday. The dollar dipped to 1.0002 Canadian dollars from 1.0006 Canadian dollars. Canada is also a major raw materials exporter.
In other trading Thursday, the dollar fell to 0.9372 Swiss francs from 0.9467 Swiss francs, touching a record low earlier at 0.9362 francs.
"The market is diversifying away from the U.S. and euro, and the Swiss franc and the Australian dollar are benefiting from that," said Camilla Sutton, currency strategist at Scotia Capital.


Updated : 2021-06-13 13:57 GMT+08:00