MW: Dollar adds to gains vs. most rivals, but falls vs. sterling
The U.S. dollar added to its gains against most other major currencies, except the British pound, Thursday after a report showed that the number of new claims for state unemployment benefits surged to their highest level since 1982. The dollar index, which measures the U.S. unit against a trade-weighted basket of six major currencies, traded at 85.92 from 85.615 earlier in the session. Initial jobless claims rose 35,000 to a seasonally adjusted 626,000 in the week ended Jan. 31, the Labor Department reported Thursday. This put the number at the highest level in 26 years. The euro fell 0.3% against the dollar and the greenback gained 0.5% against the Japanese yen. The British pound rose versus the dollar and the euro, after the Bank of England delivered a widely anticipated half-point cut in its key lending rate.
