The US dollar held its ground on Friday, having received support from the data released earlier. The data showed that the number of new applications for unemployment benefits in the U.S. fell more than expected. This indicates the stability of the labor market, writes profinance.
The pound sterling remained near a one-month low of 1.3447 dollars and, judging by forecasts, may fall by more than 1.5% for the week.
The euro also lost 0.15% to $1.1752 and is expected to lose nearly 1% for the week. Pressure on the euro is also being exerted by uncertainty over the future of Christine Lagarde, president of the European Central Bank.
Against a basket of currencies, the dollar approached a one-month high Thursday and stabilized at 98.00. That puts it on track for a weekly gain of more than 1%, which would be its best result in more than four months.
Investors are now awaiting the release of the core U.S. consumer price index and preliminary fourth-quarter GDP data. These data on the same day could have an impact on further currency movements.
