FOREX-US Dollar Dips From 1-Year High On Soft Data, Consolidation

* Weekly US jobless claims shake dollar luster * US GDP data confirms second quarter growth * Dollar / yen on track for best monthly performance since February * Euro hits peak (lowest level since July 2020 against the dollar, signature, date, price update) By Gertrude Chavez-Dreyfuss and Ritvik Carvalho NEW YORK / LONDON, September 30 (Reuters) – The dollar slipped from a high of a year on Thursday in choppy trading, somewhat under pressure from a hike in US weekly jobless claims and investors consolidated their gains after rising sharply in recent sessions. Overall, the greenback has been supported by soaring US Treasury yields, as the Federal Reserve expects its monetary stimulus to wane from November even as global growth slows. Thursday’s economic data, however, eroded some of the dollar’s strength. The first jobless claims in the United States rose for the third week in a row to 362,000 for the period ending Sept. 25, data showed. Economists polled by Reuters predicted 335,000 jobless applicants for the past week. That said, another report confirmed that US economic growth accelerated in the second quarter, at a rate of 6.7%, thanks to government financial assistance in the event of a pandemic, which boosted consumer spending. . “The mixed data held back the dollar’s rise to new highs,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. “Second quarter growth was stronger, but jobless claims added to the mixed picture for the labor market. The third consecutive weekly increase in jobless claims suggests any improvement in hiring in September may be more subdued.” , he added. The dollar index, which measures the currency against a basket of six rivals, hit 94.504, its highest since September 28 last year. It was last slightly lower to 94.287. “The dollar’s surge which took it to new highs for the year yesterday against the euro, yen and pound, has eased today and a tone of consolidation is evident,” Marc wrote. Chandler, chief market strategist at Bannockburn Forex, in a research note. “His pullback so far today has been superficial, suggesting it may not be over.” The dollar’s recent gains came despite a political stalemate in Washington over the US debt ceiling that threatens to shut down much of government. Yields on the benchmark 10-year Treasury bond stood at 1.541%, remaining near a three-month high reached on Tuesday at 1.5670%. The dollar hit 112.07 yen, the highest since February 2020. It was down 0.2% to 111.815 yen, but on track for its best monthly performance since February. The euro was down to $ 1.1585, having previously hit $ 1.1568, its lowest since July 2020. “We continue to see downside risk spot (euro) amid this new low of the year, “said Kristoffer Kjær Lomholt, chief analyst at Banque Danske. “A cyclical slowdown, higher real rates in 0-5 years, as a means to weigh on global inflation, central bank divergence and valuations are generally all inputs that suggest a weaker EUR / USD.” The risk-sensitive Australian dollar strengthened 0.7% to US $ 0.7221, after falling 0.9% overnight as iron ore prices rallied ahead of the holiday of Golden Week in Australia’s main business destination, China. A slight improvement in overall risk sentiment after days of gloom was seen in cryptocurrency markets, as bitcoin rose 3.8% to $ 43,142 and ether rebounded 4.5% at $ 2,979. Both coins are down between 20% and 27% from their September peaks. =================================================== ====== Currency Bid Price at 10:00 AM (2:00 PM GMT) Description RIC Last US Close Percentage Change YTD High Bid Low Bid Previous Session Change Index Dollar 94.3270 94.3440 +0.00 % 4.830% +94.5040 +94.2330 Euro / Dollar $ 1.1582 $ 1.1598 -0.14% -5.21% + $ 1.1610 + $ 1.1568 Dollar / Yen 111.7800 111.9750 -0.17% + 8.18% +112.0750 +111.7100 Euro / yen 129.46 129.82 -0.28% + 2.00% +129.9500 +129.4800 Dollar / Switzerland 0, 9353 0.9346 + 0.08% + 5.73% + 0.9368 + 0.9329 Pound sterling / dollar $ 1.3478 $ 1.3427 + 0.39% -1.34% +1.3496 $ + $ 1.3417 Dollar / Canadian 1.2731 1.2753 -0.17% -0.02% +1.2763 +1.2713 Aussie / dollar $ 0.7222 $ 0.7174 + 0.69% -6, 10% + $ 0.7230 + $ 0.7176 Euro / Switzerland 1.0832 1.0839 -0.06% + 0.23% +1.0847 +1.0817 Euro / Sterling 0.8591 0.8636 -0.52% -3.87% +0.8643 + 0.8591 NZ $ 0.6893 $ 0.6866 + 0.40% -4.01% + $ 0.6897 + $ 0.6860 Dollar / Dollar Dollar / Norway 8.7480 8.7860 -0.59% + 1.71% +8.8295 +8.7340 Eu ro / Norway 10.1341 10.1740 -0.39% -3.17% +10.2315 +10.1200 Dollar / Sweden 8.7737 8.8067 -0. 50% + 7.04% +8.8118 +8.7498 Euro / Sweden 10.1635 10.2141 -0.50% + 0.86% +10.2167 +10.1430 (Reporting by Gertrude Chavez-Dreyfuss in New York and Ritvik Carvalho in London; Additional reporting by Kevin Buckland in Tokyo; Editing by William Maclean, Hugh Lawson and Jonathan Oatis)

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