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U.S. dollar rallies on upbeat jobs data

Xinhua, October 7, 2016 Adjust font size:

The U.S. dollar rose against other major currencies on Thursday as jobs data from the country came out better than expected.

Initial claims for U.S. unemployment benefits declined 5,000 to a seasonally adjusted 249,000 for the week ended Oct. 1, lower than market consensus of 256,000, said the Labor Department on Thursday.

The upbeat jobs data bolstered market speculations of an interest rate-hike by year-end, which supported the greenback.

Investors also keep a close eye on the country's nonfarm payroll report due to be released on Friday for more clues on the central bank's next move.

The dollar index, which measures the greenback against six major currencies, was up 0.54 percent at 96.645 in late trading.

In late New York trading, the euro fell to 1.1153 dollars from 1.1214 dollars, and the British pound declined to 1.2638 dollars from 1.2750 dollars. The Australian dollar decreased to 0.7584 dollars from 0.7628 dollars.

The dollar bought 104.08 Japanese yen, higher than 103.55 yen in the previous session. The dollar inched up to 0.9806 Swiss francs from 0.9740 Swiss francs, and it climbed to 1.3212 Canadian dollars from 1.3165 Canadian dollars. Endit