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Forex - Dollar hits one-week lows vs. other majors

Published 02/24/2017, 08:20 AM
Updated 02/24/2017, 08:20 AM
© Reuters.  Weak dollar pushes broadly lower vs. rivals

© Reuters. Weak dollar pushes broadly lower vs. rivals

Investing.com - The dollar hit one-week lows against other major currencies on Friday, as investors eyed the release of U.S. new home sales and consumer sentiment data due later in the day and as the minutes of the Federal Reserve’s latest policy meeting continued to weigh.

EUR/USD rose 0.27% to 1.0609, the highest since Tuesday.

Late Wednesday, the minutes of the Fed’s January policy meeting showed that policymakers thought it may be appropriate to raise interest rates again "fairly soon."

However, the minutes also revealed the central bank’s uncertainty over the lack of clarity of the Trump administration's economic program, dampening demand for the greenback.

The dollar was also weighed by a report by the U.S. Department of Labor on Thursday showing that initial jobless claims increased by 6,000 to 244,000 last week. Analysts had expected jobless claims to rise by 2,000 to 241,000.

Elsewhere, GBP/USD was little changed at 1.2549.

USD/JPY dropped 0.40% lower to 112.15, while USD/CHF slipped 0.27% to 1.0036.

The Australian and New Zealand dollars were weaker, with AUD/USD down 0.45% at 0.7679 and with NZD/USD shedding 0.26% to 0.7210.

Meanwhile, USD/CAD was little changed at 1.3104, just off a four-day low of 1.3079 hit overnight, as investors were looking ahead to the release of Canadian inflation data, due later Friday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.23% at a one-week low of 100.72.

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