Investing.com – The U.S. dollar was broadly lower against its major counterparts on Thursday, while the euro was close to a 17-month high as markets watched for the European Central Bank to reinforce higher rate expectations later in the day.
During European morning trade, the greenback was lower against the euro, with EUR/USD rising 0.31% to hit 1.4874.
But greenback was slightly higher against the pound, with GBP/USD slipping 0.09% to hit 1.6475.
Earlier in the day, data showed that service sector activity in the U.K. declined more-than-expected in April.
Elsewhere, the greenback was lower against the yen and the Swiss franc with USD/JPY shedding 0.40% to hit 80.29 and USD/CHF dropping 0.49% to hit 0.8574.
Meanwhile, the greenback was higher against its Canadian and Australian counterparts but lower against its New Zealand cousin, with USD/CAD easing up 0.02% to hit 0.9594, AUD/USD shedding 0.29% to hit 1.0715 and NZD/USD rising 0.23% to hit 0.7914.
Earlier Thursday, official data showed that Australian retail sales unexpectedly dropped in March, fueling speculation the central bank will delay raising interest rates.
A separate report showed that New Zealand’s rate of unemployment fell unexpectedly in the first quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.31%.
Later in the day, the U.S. was to publish official data on initial jobless claims and Federal Reserve Chairman Ben Bernanke was to speak.
During European morning trade, the greenback was lower against the euro, with EUR/USD rising 0.31% to hit 1.4874.
But greenback was slightly higher against the pound, with GBP/USD slipping 0.09% to hit 1.6475.
Earlier in the day, data showed that service sector activity in the U.K. declined more-than-expected in April.
Elsewhere, the greenback was lower against the yen and the Swiss franc with USD/JPY shedding 0.40% to hit 80.29 and USD/CHF dropping 0.49% to hit 0.8574.
Meanwhile, the greenback was higher against its Canadian and Australian counterparts but lower against its New Zealand cousin, with USD/CAD easing up 0.02% to hit 0.9594, AUD/USD shedding 0.29% to hit 1.0715 and NZD/USD rising 0.23% to hit 0.7914.
Earlier Thursday, official data showed that Australian retail sales unexpectedly dropped in March, fueling speculation the central bank will delay raising interest rates.
A separate report showed that New Zealand’s rate of unemployment fell unexpectedly in the first quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.31%.
Later in the day, the U.S. was to publish official data on initial jobless claims and Federal Reserve Chairman Ben Bernanke was to speak.