The rapid increase of jobless claims in the U.S. tugged down the value of the U.S. dollar on Thursday against the Japanese yen and the common currency of the European Union, Bloomberg reports.
Inflation also fell, influencing strong beliefs that the central bank of the U.S. will continue with its bond-buying program, an effort to spur development and growth of the globe's largest economy. Losses for the greenback against the 17-nation currency close five consecutive days of gains for the dollar against it.
Currency strategy head Camilla Sutton with Bank of Nova Scotia in Toronto told Bloomberg that the U.S. suddenly was plagued with weak, underwhelming economic data. Thursday morning data released by the country proved to be quite disappointing, which had its impact on the value of the nation's monetary unit.
The U.S. dollar has advanced 3.9 percent, establishing itself as the strongest-performing of 10 developed-nation currencies that Bloomberg follows.
Last week's increase in jobless applications in the U.S. was more rapid than any time during the past six months, according to Reuters. The nation also released poor economic data about the housing market.
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