Wed, 31 May 2023

U.S. dollar strengthens amid economic data

27 Jan 2023, 07:18 GMT+10

NEW YORK, Jan. 26 (Xinhua) -- The U.S. dollar rose in late trading on Thursday as market participants digested a slew of economic data.

The dollar index, which measures the greenback against six major peers, increased 0.19 percent to 101.8360.

In late New York trading, the euro was down to 1.0889 U.S. dollars from 1.0914 dollars in the previous session, and the British pound increased to 1.2407 U.S. dollars from 1.2398 dollars in the previous session.

The U.S. dollar bought 130.21 Japanese yen, higher than 129.56 Japanese yen of the previous session. The U.S. dollar climbed to 0.9198 Swiss francs from 0.9178 Swiss francs, and it decreased to 1.3334 Canadian dollars from 1.3381 Canadian dollars. The U.S. dollar rose to 10.2691 Swedish Kronor from 10.2168 Swedish Kronor.

On the economic front, the U.S. Commerce Department reported Thursday that U.S. gross domestic product increased at an annual rate of 2.9 percent in the fourth quarter of 2022, beating the consensus, but still down from 3.2 percent in the third quarter.

U.S. initial jobless claims, a rough way to measure layoffs, decreased by 6,000 to 186,000 in the week ending Jan. 21, said the Labor Department. Economists polled by The Wall Street Journal had estimated new claims would total 205,000.

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