NEW YORK (Marketwatch) -- The dollar advanced versus major counterparts Thursday, reversing an earlier decline, after the U.S. Labor Department said initial claims for unemployment benefits fell more than economists expected and to the lowest level since early May. The dollar index (DXY 79.83, +0.33, +0.41%) , which measures the performance of the greenback against a basket of currencies, stood at 79.667, down from 79.499 in late North American trading Wednesday. Also, the number of continuing claims for state unemployment benefits has finally declined, decreasing by 15,000 to 6.74 million in the week ended May 23. A separate report said productivity rose 1.6% in the first quarter, more than previously estimated. The dollar had been higher versus the euro and British pound and stayed slightly higher against the Canadian dollar before the data as meetings of those central banks held the spotlight.
