New York Trading on Thursday
The U.S. dollar fell against major currencies in late New York trading on Thursday as successful bonds auctions by France and Spain boosted the euro, while upbeat job data trimmed the dollar’s losses.
The Spanish government on Thursday successfully auctioned 6.61 billion euros in bonds, which was above its top-end target of 4.5 billion euros. The yield of 10-year notes fell to 5.403 percent from 6.975 percent last month.
Meanwhile, France sold 7.97 billion euro medium-term bonds which also saw decent demands and falling yields.
The good results of both the bonds auctions helped to ease investors’ fear about the European debt crisis after the rating agency Standard & Poor’s downgraded several European countries’ credit ratings last week.
The euro rebounded against the dollar on Thursday, topping 1.29 in late trading session. Also supporting the euro, Greece may reach agreements with private creditors over a key bond-swap deal.
On economic front, the U.S. Labor Department said initial jobless claims fell to 352,000, the lowest level in nearly four years. The better-than-expected job data helped to pare the dollar’s losses. The dollar index lost 0.51 percent to 80.20 on Thursday.
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