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1st LD Writethru: U.S. dollar rebounds on upbeat data

Xinhua, May 8, 2015 Adjust font size:

The U.S. dollar increased against most major currencies on Thursday as economic data from the country came out positive.

U.S. Labor Department said on Thursday that in the week ending May 2, the advance figure for seasonally adjusted initial jobless claims was 265,000, an increase of 3,000 from the previous week's unrevised level of 262,000. The latest figure was below market consensus of 280,000.

The 4-week moving average was 279,500, the lowest level since May 6, 2000, and also a decrease of 4,250 from the previous week's unrevised average of 283,750.

Meanwhile, investors were still digesting Federal Reserve Chair Janet Yellen's comments on Wednesday.

Yellen pointed out that low interest rates can certainly create risks for financial stability, saying there are potential dangers, such as high equity market valuations, compressed spreads on high- yield debt, and deterioration in underwriting standards for leveraged loans.

The dollar index, which measures the greenback against six major peers, was up 0.60 percent at 94.649 in late trading.

In late New York trading, the euro dropped to 1.1266 dollars from 1.1356 dollars in the previous session, and the British pound rose to 1.5258 dollars from 1.5248 dollars in the previous session. The Australian dollar went down to 0.7903 dollars from 0.7967 dollars.

The U.S. dollar bought 119.77 Japanese yen, higher than 119.35 yen of the previous session. The U.S. dollar climbed to 0.9217 Swiss francs from 0.9148 Swiss francs, and it surged to 1.2136 Canadian dollars from 1.2046 Canadian dollars. Endite