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Euro rises against U.S. dollar

Euro rises against U.S. dollar

The euro rose against the U.S. dollar on Thursday as new U.S. data showed a slight rise in the number of Americans filing applications for jobless benefits.
The 12-nation currency bought US$1.3185 in afternoon European trading, up from US$1.3123 in New York late Wednesday. The British pound climbed to US$1.9653 from US$1.9564.
The dollar bought 118.54 Japanese yen, down from 118.74 yen on Wednesday.
The euro has been helped recently by expectations, fueled by U.S. data, that the gap between European and U.S. interest rates will continue to narrow.
On Thursday, the Labor Department said that 317,000 newly laid-off workers filed for jobless benefits last week, an increase of 1,000 from the previous week. However, that was better than the rise of 8,000 analysts been expected.
Higher interest rates, a weapon against inflation, support a currency by making assets denominated in that currency more attractive to investors.


Updated : 2021-04-22 02:29 GMT+08:00