Latest News
Click Here to read UK News
Click Here to read Forex News
Click Here to read Market News
-
Earnings lifts European shares, German DAX outperforms
Published at 26/01/2021 at 17:28 -
London stocks climb as AstraZeneca, Indivior jumps
Published at 26/01/2021 at 17:14 -
London stocks gain as AstraZeneca, Indivior jump
Published at 26/01/2021 at 08:31 -
European stocks inch higher as UBS profit surges
Published at 26/01/2021 at 08:18 -
UK Stocks-Factors to watch on Jan 26
Published at 26/01/2021 at 07:53 -
UK Stocks-Factors to watch on Jan 26
Published at 26/01/2021 at 06:35 -
Weak German business morale, vaccine delays push European stocks to 2-week low
Published at 25/01/2021 at 17:31 -
London's FTSE 100 drops to near three-week low as virus risks weigh
Published at 25/01/2021 at 17:00 -
London stocks gain on M&A activity, virus risks weigh
Published at 25/01/2021 at 08:20 -
Tech shares, corporate earnings lift European stocks
Published at 25/01/2021 at 08:18
-
FOREX-Dollar on the defensive with Fed's Powell likely to sound dovish note
Published at 27/01/2021 at 00:36 -
FOREX-Dollar retreats as riskier currencies recover
Published at 26/01/2021 at 21:13 -
FOREX-Dollar retreats as riskier currencies rebound
Published at 26/01/2021 at 15:30 -
FOREX-Dollar holds at one-week highs as yuan outperforms
Published at 26/01/2021 at 11:50 -
FOREX-Dollar at one-week highs on safety bid, euro struggles
Published at 26/01/2021 at 08:52 -
FOREX-Dollar gains as stimulus nerves nudge investors to safety
Published at 26/01/2021 at 07:01 -
FOREX-Dollar firm as traders look to Fed to hold the line
Published at 26/01/2021 at 04:29 -
FOREX-Dollar firm as jittery markets look to Fed for catalysts
Published at 26/01/2021 at 00:46 -
FOREX-Dollar advances as investors shy away from risk
Published at 25/01/2021 at 20:43 -
FOREX-Dollar rises as investors shy away from risk
Published at 25/01/2021 at 17:28
-
PRECIOUS-Gold steady ahead of U.S. Fed policy decision
Published at 27/01/2021 at 00:52 -
Oil prices steady as virus deaths rise, demand worries persist
Published at 26/01/2021 at 21:49 -
PRECIOUS-Gold edges down on U.S. stimulus worries, softer dollar limits losses
Published at 26/01/2021 at 19:01 -
PRECIOUS-Gold eases on firm dollar ahead of U.S. Fed meeting
Published at 26/01/2021 at 12:11 -
PRECIOUS-Gold falls on firmer dollar, U.S. stimulus concerns
Published at 26/01/2021 at 08:29 -
CORRECTED-Oil prices edge lower amid doubts over U.S. stimulus, rising coronavirus cases
Published at 26/01/2021 at 04:44 -
PRECIOUS-Gold inches lower on firmer dollar, U.S. stimulus worries
Published at 26/01/2021 at 01:13 -
Oil rises 1% on U.S. stimulus hopes, supply concerns
Published at 25/01/2021 at 20:28 -
PRECIOUS-Gold pares gains as the dollar edges higher
Published at 25/01/2021 at 19:33 -
PRECIOUS-Gold firms as dollar, yields ease; Biden stimulus plan in focus
Published at 25/01/2021 at 12:26
FOREX-Dollar near a 3-month low ahead of Thanksgiving holiday
* Dollar trades near three-month lows
* Bitcoin shy of 2017 record
(Updates to U.S. afternoon)
By Saqib Iqbal Ahmed
NEW YORK, Nov 25 (Reuters) - The dollar edged lower against a basket of currencies on Wednesday, trading near a three-month low, even as a risk-on rally in global financial markets appeared to stall after U.S. data showed a less-than-rosy economic picture.
The number of Americans filing first-time claims for jobless benefits increased further last week, suggesting that an explosion in new COVID-19 infections and business restrictions were boosting layoffs and undermining the labor market recovery.
Other data out on Wednesday showed the economy got off to a solid start in the fourth quarter, with consumer spending and business investment in equipment topping analysts' expectations in October. Businesses also reported a sharp rebound in profits in the third quarter.
"The avalanche of mixed U.S. data today had little impact on the USD, and it appeared traders were more focused on pre-Thanksgiving holiday position adjustments than anything else," Ronald Simpson, managing director, global currency analysis at Action Economics, said in a note.
The U.S. dollar index was 0.14% lower at 91.999, rebounding modestly after having fallen as low as 91.927 earlier in the session, its weakest since Sept 1.
The dollar has come under pressure in recent months from expectations that U.S. interest rates will remain near historic lows for years to come, and as news of various COVID-19 vaccines helped boost investors’ appetite for riskier currencies.
U.S. Federal Reserve policymakers discussed how the central bank's asset purchases could be adjusted to provide more support to markets and the economy during the November policy setting meeting.
The dollar is expected to continue to fall as progress on a vaccine and the expected choice of former Federal Reserve Chair Janet Yellen as the next U.S. Treasury secretary relieved two big uncertainties for investors.
Sterling edged higher on Wednesday after British finance minister Rishi Sunak announced a one-year spending plan to parliament, along with new forecasts for the country's coronavirus-hit economy.
Bitcoin , the most popular cryptocurrency, climbed to $19,049.13, a little short of its record of $19,666 from December 2017.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ GRAPHIC: Dollar trades near 3-month lows GRAPHIC: World FX rates in 2020
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Saqib Iqbal Ahmed; Editing by Jan Harvey and Jonathan Oatis)
((saqib.ahmed@thomsonreuters.com; @SaqibReports; +1 646 223 6054; Reuters Messaging: saqib.ahmed.thomsonreuters.com@reuters.net))