logo
  

U.S. Dollar Edges Higher Amid Lingering Omicron Concerns

The value of the U.S. dollar has once again fluctuated over the course of trading on Thursday and is currently seeing modest strength.

After falling as low as 95.83 in morning trading, the U.S. dollar index is currently trading at 96.14, up 0.12 points or 0.1 percent.

The dollar is trading at 113.17 yen versus the 112.78 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1300 compared to yesterday's $1.1320.

The uptick by the greenback may partly reflect the currency's appeal as a safe haven amid lingering concerns about the new omicron variant of the coronavirus.

In U.S. economic news, the Labor Department released a report showing a modest rebound by initial jobless claims in the week ended November 27th.

The report said initial jobless claims rose to 222,000, an increase of 28,000 from the previous week's revised level of 194,000.

Economists had expected jobless claims to climb to 240,000 from the 199,000 originally reported for the previous week.

The modest increase came after jobless claims tumbled to their lowest level since 1969 in the previous week, although the drop was partly attributed to the later timing of Thanksgiving this year throwing off the seasonal adjustment.

For comments and feedback contact: editorial@rttnews.com

Forex News

Follow RTT