Investing.com – The U.S. dollar remained broadly higher against its major counterparts on Thursday, while the euro weakened broadly after European Central Bank President Jean-Claude Trichet underlined increased economic risks and cut euro zone growth forecasts.
During U.S. morning trade, the greenback was up against the euro, with EUR/USD shedding 0.69% to hit 1.4000.
Speaking at the ECB’s post-policy meeting press conference, Trichet said the euro zone economy was facing “particularly high uncertainty and intensified downside risks,” and revised down the outlook for economic growth for 2011 and 2012.
The bank left its benchmark interest rate unchanged at 1.5% earlier.
But the greenback was lower against the pound, with GBP/USD climbing 0.52% to hit 1.6075.
Earlier Thursday, the Bank of England left its benchmark interest rate unchanged at 0.5% and held off from increasing its asset-buying program.
Elsewhere, the greenback was higher against the Swiss franc and the yen, with USD/CHF jumping 1.41% to hit 0.8694 and USD/JPY rising 0.14% to hit 77.34.
Earlier in the day, official data showing that Japanese machinery orders fell more-than-expected in July underlined concerns that the yen’s strong gains are having a negative impact on Japan’s recovery from the March earthquake disaster.
In addition, the greenback edged higher against its Canadian and Australian counterparts but was lower against its New Zealand cousin, with USD/CAD easing up 0.08% to hit 0.9838, AUD/USD dipping 0.04% to hit 1.0656 and NZD/USD rallying 0.72% to hit 0.8379.
Earlier in the day, official data showed that Canadian building permits jumped in July, while a separate report showed that the country’s trade deficit narrowed more-than-expected in July.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.33% to hit 75.78.
Also Thursday, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly to hit 414,000, confounding expectations for a decline to 405,000.
Meanwhile, investors were looking ahead to a speech by Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook later in the day, while U.S. President Barack Obama was to make a speech to Congress to propose new employment measures.
During U.S. morning trade, the greenback was up against the euro, with EUR/USD shedding 0.69% to hit 1.4000.
Speaking at the ECB’s post-policy meeting press conference, Trichet said the euro zone economy was facing “particularly high uncertainty and intensified downside risks,” and revised down the outlook for economic growth for 2011 and 2012.
The bank left its benchmark interest rate unchanged at 1.5% earlier.
But the greenback was lower against the pound, with GBP/USD climbing 0.52% to hit 1.6075.
Earlier Thursday, the Bank of England left its benchmark interest rate unchanged at 0.5% and held off from increasing its asset-buying program.
Elsewhere, the greenback was higher against the Swiss franc and the yen, with USD/CHF jumping 1.41% to hit 0.8694 and USD/JPY rising 0.14% to hit 77.34.
Earlier in the day, official data showing that Japanese machinery orders fell more-than-expected in July underlined concerns that the yen’s strong gains are having a negative impact on Japan’s recovery from the March earthquake disaster.
In addition, the greenback edged higher against its Canadian and Australian counterparts but was lower against its New Zealand cousin, with USD/CAD easing up 0.08% to hit 0.9838, AUD/USD dipping 0.04% to hit 1.0656 and NZD/USD rallying 0.72% to hit 0.8379.
Earlier in the day, official data showed that Canadian building permits jumped in July, while a separate report showed that the country’s trade deficit narrowed more-than-expected in July.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.33% to hit 75.78.
Also Thursday, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly to hit 414,000, confounding expectations for a decline to 405,000.
Meanwhile, investors were looking ahead to a speech by Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook later in the day, while U.S. President Barack Obama was to make a speech to Congress to propose new employment measures.