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    Dollar trade lower against rivals, oil remains in focus

    The dollar trade lower against the other major currencies on Thursday, after U.S. data unveil a mixed picture of the economy amid investors focus on the oil market.

    The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending February 20 increased by 10,000 to 272,000 from the previous week’s total of 262,000, missing expectations of a rise of 8,000 to 270,000 last week.

    Separately, the U.S. Commerce Department said that total durable goods orders rose by 4.9% last month, blowing past forecasts for a rise of 2.5%. Core durable goods orders, which exclude volatile transportation items, increased by 1.8% in January, easily surpassing expectations for a gain of 0.2%.

    Futhermore, oil prices held above $31 a barrel, but worries over a supply glut persisted after weekly stockpile data released on Wednesday, showed that U.S. oil inventories jumped to an all-time high last week.

    The greenback advanced 0.49% against the Japanese yen, with USD/JPY to trade at 112.75. 

    The dollar dropped against the pound, with GBP/USD up 0.09% at 1.3940, still close to Wednesday’s seven-year low of 1.3875.

    The dollar was also lower against the euro, with EUR/USD up 0.15% at 1.1032, USD/CHF added 0.13% to trade at 0.9902.

    Meanwhile, the Australian and New Zealand dollars were stronger, with AUD/USD up 0.15% at 0.7208 and with NZD/USD climbing 0.50% to 0.6694.

    The U.S. dropped 0.83% against its Canadian counterpart, with USD/CAD to trade at a two-month low of 1.3583.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.09% at 97.42.

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