Investing.com - The dollar was broadly lower against the other major currencies on Thursday amid ongoing concerns about when the Federal Reserve will begin to pull back stimulus, and as strong Chinese trade data buoyed market sentiment.
During European late morning trade, the dollar was trading close to seven-week lows against the yen, with USD/JPY dipping 0.05% to 96.30.
The dollar remained under pressure after two senior Federal Reserve officials said Tuesday that they would not rule out the withdrawal of stimulus measures at the bank’s September meeting.
The yen showed little reaction after the Bank of Japan kept monetary policy unchanged after its policy meeting on Thursday, in a widely expected decision.
Elsewhere, the dollar was near seven-week lows against sterling, with GBP/USD rising 0.14% to 1.5511.
Demand for sterling continued to be underpinned after the Bank of England announced plans on Wednesday to keep interest rates at record lows as long as the U.K. unemployment rates remains above 7%.
The dollar hit seven-week lows against the euro, with EUR/USD gaining 0.17% to trade at 1.3358.
Earlier Thursday, German trade data for June showed that exports were up 0.6% from the previous month, but the report also showed that imports fell 0.8% from May.
The dollar was lower against the Swiss franc, with USD/CHF slipping 0.11% to 0.9207.
The greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD advancing 0.81% to 0.9072, NZD/USD easing up 0.10% to 0.7977 and USD/CAD sliding 0.10% to 1.0413.
The growth linked Australian dollar was boosted after Chinese trade data showed that exports were up 5.1% from a year earlier in June, easing concerns over a slowdown in the world’s second-largest economy.
Imports were 10.9% higher on a year-over-year basis, pointing to strong domestic demand.
The data offset a report showing that the number of employed people in Australia fell by 10,200 in July, confounding expectations for a 5,000 rise. The unemployment rate remained unchanged at 5.7%.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was 0.11% lower at 81.20.
Investors were awaiting U.S. data on initial jobless claims later in the trading day.
