Dollar pulls back from session highs vs. other majors
The dollar trimmed gains and held steady against other major currencies on Thursday, after the release of upbeat U.S. economic reports, although expectations for June rate hike continued to support.
EUR/USD was almost unchanged at 1.0866.
The greenback initially strengthened after the U.S. Department of Labor said initial jobless claims in the week ending May 6 decreased by 2,000 to 236,000 from the previous week’s total of 245,000.
Analysts had expected jobless claims to rise by 7,000 to 245,000 last week.
Separately, the Commerce Department said producer prices increased by 0.5% last month, exceeding forecasts for a 0.2% rise. Year-over-year, producer prices rose 2.5% in April.
Core producer prices, which exclude food and energy, advanced by 0.4% in April, higher than forecasts for a gain of 0.2%.
The upbeat data added to expectations for a rate hike by the Federal Reserve next month.
USD/JPY retreated 0.59% to 113.62, while USD/CHF fell 0.22% to 1.0068.
The Australian dollar was steady, with AUD/USD at 0.7362, while NZD/USD declined 0.68% to trade at 0.6844.