The dollar rose slightly against the euro but fell against other major currencies on Thursday amid weak U.S. economic data.
The Federal Reserve said nationwide industrial output sank for the second straight month in April by 0.7 percent, due to big cutbacks in the automotive and other manufacturing industries. The drop was more than double analysts' average prediction.
The Labor Department said the number of laid off-workers applying for jobless benefits rose last week by 6,000 to 371,000. The data was near the average analyst forecast, suggesting that the labor market remains weak but in check.
These reports compounded recent worries about the U.S. economic outlook, raising the possibility that the Federal Reserve would trim interest rates again, especially as Wednesday's inflation data came in tame. The Fed has cut its key rate seven cuts since September.
Fed Chairman Ben Bernanke, in a speech Thursday, gave no clues as to the central bank's future moves on interest rates, instead calling on banks to raise capital and better manage their risk-taking.
The euro bought 1.5454 dollars in late New York trading compared with 1.5461 dollars it bought late Wednesday. The British pound rose to 1.9451 dollars from 1.9441 dollars.
The dollar fell to 1.0565 Swiss francs from 1.0567 Swiss francs, and fell to 105.26 Japanese yen from 106.38 Japanese yen. It fell to 1.0009 Canadian dollars from 1.0031 Canadian dollars.
Source:Xinhua
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