MW: Dollar's down as data point to further weakness
NEW YORK (MarketWatch) -- The dollar remained slightly lower on Wednesday after reports on joblessness and consumer spending pointed to further weakness in the U.S. economy.
The euro rose to $1.4000, up from $1.3916 in late North American trading Tuesday.
The dollar index which tracks moves in the greenback against a basket of six major counterparts, was little changed at 81.08.
Initial claims for unemployment benefits rose 30,000 to a seasonally adjusted 586,000 in the week ended Dec. 20, the highest since 1982. See jobs story.
A separate report said consumer spending declined 0.6% in November, though economists surveyed by MarketWatch had expected a 0.7% decline.
A measure of consumer inflation excluding energy and food prices was flat in November, as predicted. See consumer spending story.
Also Thursday, the Commerce Department reported that durable-goods orders fell 1% last month, less than the 3% drop forecast. See durable goods story.
Currency trading is likely to be on the light side, as U.S. equity and bond markets are closed on Thursday for Christmas. British equities had a holiday-shortened trading session while German markets were closed.
"Price action seems largely order-driven as the holidays dampen interest and activity," said Marc Chandler, head of global currency strategy for Brown Brothers Harriman.
The dollar has gained 19.2% against the Japanese yen (C_JPY:
