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    Dollar rises after upbeat U.S. data

    The dollar rose against the other major currencies on Thursday, after the release of upbeat U.S. economic reports, mid doubtfulness over whether the Federal Reserve will lift interest rates this year. 

    The U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits in the week ending February 13 decreased by 7,000 to a 12-week low of 262,000 from the previous week’s total of 269,000, missing analysts expectations of a rise of 6,000 to 275,000 last week.

    Furthermore, the Fed Bank of Philadelphia said that its manufacturing index improved to -2.8 this month from January's reading of -3.5. Analysts had expected the index to hit -3.0 in February.

    The greenback had weakened after the Organization for Economic Cooperation and Development cut its global growth forecast for this year and warned that some emerging markets are at risk of exchange-rate volatility.

    Also, the dollar trade lower after Fed policymakers reported that in ’the minutes of the banks January policy meeting released on Wednesday, that tighter global financial conditions could weigh on the U.S. economy and considered changing their planned path of interest rate hikes in 2016.

    Elsewhere, the single currency edged lower and posted fresh 2-week lows at the beginning of the US session against the dollar, with EUR/USD declining 0.38% to 1.1086.

    The minutes of the European Central Banks January meeting signaled that the bank is prepared to inject further monetary easing next month if necessary to bolster growth and said that: “In a situation where risks were predominantly on the downside and new downside risks were emerging, it would be preferable to act pre-emptively”. 

    The dollar fell 0.21% against the Japanese yen, with USD/JPY to trade at 113.86.

    Although the dollar was also lower against the British pound, with GBP/USD up 0.58% at 1.4374, it moved higher against the Swiss franc, with USD/CHF rising 0.27% to 0.9952.

    Meanwhile, the Australian and New Zealand dollars were weaker, with AUD/USD down 0.40% at 0.7155 and with NZD/USD easing 0.09% to 0.6623.

    The Canadian dollar keeps its gains versus its American counterpart on Thursday, with USD/CAD hit 1.3713 during early US trade, consolidated at 1.3687, adding 0.10%.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08% at 96.95.

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