U.S. dollar rises against pound on BOE easing expectation

The U.S. dollar climbed against the British pound for the first time in three days as Bank of England (BOE) signaled monetary easing this summer.

BOE Governor Mark Carney said on Thursday that the central bank may need to loosen monetary policy within months to limit the fallout from Britain's vote to leave the European Union last Friday.

Sterling has tumbled 11 percent since the Brexit decision, the lowest level in 31 years. Analysts said although the slump showed a lack of confidence in the UK economic outlook, a weaker currency may help cushion the effect of Brexit.

On the economic front, in the week ending June 25, the advance figure for seasonally adjusted initial jobless claims was 268,000, an increase of 1,000 from the previous week's revised level, the U.S. Labor Department said Thursday.

The 4-week moving average was 266,750, unchanged from the previous week's revised average.

The dollar index, which tracks the greenback against six major peers, was up 0.48 percent at 96.233 in late trading on Wednesday.

In late New York trading, the euro rose to 1.1108 dollars from 1.1046 dollars of the previous session, and the British pound increased to 1.3430 dollars from 1.3321 dollars. The Australian dollar went up to 0.7438 dollars from 0.7361 dollars.

The dollar bought 103.28 Japanese yen, higher than 102.56 yen of the previous session. The dollar dropped to 0.9784 Swiss francs from 0.9798 Swiss francs, and it dipped to 1.2977 Canadian dollars from 1.2980 Canadian dollars. Endit