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Dollar falls, euro nearing $1.34 – Currencies – MarketWatch

U.S. weekly job claims are due at 8:30 a.m. Eastern, part of the labor-market data that the Federal Reserve monitors in deciding when it could begin to step back on monetary stimulus. No Fed speakers are expected Thursday.The euro EURUSD +0.1983% rose to $1.3361 from $1.3308 late Wednesday. The shared currency last closed above $1.34 on June 18, according to FactSet.

… The ICE dollar index DXY -0.20%  , which tracks the U.S. currency’s movement against six rivals, fell to 81.161 from 81.244 late Wednesday.

The WSJ Dollar Index XX:BUXX -0.25%  , which uses a slightly wider comparison basket, fell to 73.43 from 73.56.

The dollar on Wednesday fell broadly against major rivals, though another Fed official — Cleveland Fed Bank President Sandra Pianalto — indicated the central bank could start reducing asset purchases if there’s improvement in the labor market.

… The mixed jobs report released late last week highlighted uncertainty about when the Federal Reserve will slow the pace of asset purchases, which have been seen as pressuring the dollar’s value. The central bank buys $85 billion a month in U.S. debt and mortgage-backed securities in a bid to hold interest rates low and encourage economic growth.

Read the Rest @ Dollar falls, euro nearing $1.34 – Currencies – MarketWatch.

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