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Home>UPDATE: Dollar holds gain after jobless claims, British pounds weakens further

UPDATE: Dollar holds gain after jobless claims, British pounds weakens further

UPDATE: Dollar holds gain after jobless claims, British pounds weakens further

10/06/2017

By Anneken Tappe and Rachel Koning Beals

Sterling hits one-month low after May speech

The dollar on Thursday extended gains against most European rivals, boosted by a stronger-than-expected report on jobless claims a day ahead of a September employment report that will be watched for signs to the potential for another Federal Reserve rate increase this year.

Meanwhile, the British pound saw a significant move, dropping below $1.32 for the first time in almost a month.

Where are currencies trading?

The ICE U.S. Dollar Index , which measures the U.S. currency against six rivals, was up 0.5% at 93.952. The WSJ U.S. Dollar Index --a broader measure of the greenback--gained 0.5% to 86.98.

The euro was buying $1.1707, down from $1.1761, hitting its lowest level since late July. Meanwhile, the British pound fell to $1.3113--the lowest level since early September--versus $1.3246 late Wednesday. Against the euro the pound plunged half a percent, with one euro buying GBP0.8927.

Read:Sterling has a long way to fall, as snap election risk mounts in the U.K (http://www.marketwatch.com/story/sterling-has-a-long-way-to-fall-as-snap-election-risk-mounts-in-the-uk-2017-10-05).

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