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Forex - Dollar falls in mid-day Asian trade

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In mid-day Asian trade, the greenback was lower against the euro, with EUR/USD gaining 0.20% to hit 1.4407.

In figures released Thursday by the U.S. Department of Labor, the number of Americans filing for unemployment assistance rose by 5,000 to a seasonally adjusted 417,000, in the week ending August 19. Market expectations were for jobless claims to fall to 405,000 from 412,000 the previous week.

In addition, the Labor Department said those who continue to receive state unemployment checks fell by 80,000 to 3.64 million in the week ended Aug 13. Continuing claims are reported with a one-week lag, and expectations were for a decline to 3.70 million.

Wall Street shares snapped a three-day winning streak, with the the Dow Jones Industrial Average falling 1.5% to 11,149.82, the Nasdaq Composite Index declined 1.95% to 2,419.63, and the S&P 500 lost 1.56%. to 1,159.27.

Meanwhile, the greenback was down against the British pound, with GBP/USD up by 0.13% to 1.6302.

The dollar surrendered ground to both the Japanese yen and the Swiss franc with USD/JPY retreating 0.20% to hit 77.31, and USD/CHF lower by 0.02% to hit 0.7932.

The greenback was lower against its Canadian, Australian and New Zealand counterparts with USD/CAD down 0.12% to hit 0.9868, AUD/USD lower by 0.44% to hit 1.0476, and NZD/USD rising 0.45% to hit 0.8308.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.19% at 74.18.

Later in the day Friday, following Bernanke's scheduled speech in Jackson Hole, Wyoming, the U.S. Bureau of Economic Analysis was to release quarterly gross domestic product figures. GDP in the U.S. was expected to show a 1.1% rise for the three-month period.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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