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Forex - Dollar slips lower vs. rivals amid oil rebound

Investing.com -

Investing.com - The dollar slipped lower against other major currencies on Friday, as markets were eying a string of economic reports from the euro zone and as a rebound in oil prices helped the commodity-related currencies.

EUR/USD added 0.14% to 1.1168.

The greenback came under mild pressure following a report on Thursday by the U.S. Department of Labor showing that initial jobless claims in the week ending June 17 increased by 3,000 to 241,000 from the previous week's total of 238,000.

Analysts expected jobless claims to rise by 2,000 to 240,000 last week.

Market participants were focusing on a string of manufacturing and service sector activity data due out of the euro zone, later in the day.

GBP/USD edged up 0.16% to trade at 1.2702.

Meanwhile, a rebound in oil prices helped the commodity-related Canadian dollar on Friday. USD/CAD slipped 0.11% at 1.3219.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.13% at 97.13, the lowest since June 19.

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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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