Dollar gains, yen slips in quiet forex trade
The US dollar. (AFP/Mark Wilson)
NEW YORK: The dollar edged higher against the euro while the yen slipped in Thursday forex trading that drifted without much news to set direction.
The dollar got minor help from a solid improvement in the US weekly figures for initial claims for unemployment insurance - an indicator of layoffs.
But other data on the housing market showed a slowing pace of sales and there was no improvement in the final revision to the second quarter US growth rate, which held at 2.5 percent.
"The economy continues to grow at a lackluster pace," said Doug Handler, chief US economist at IHS Global Insight.
At 2200 GMT the euro bought $1.3488, compared to $1.3525 late Wednesday.
The dollar climbed back to 98.94 yen, from 98.40, while the euro rose to 133.48 yen from 133.13.
The British pound was slightly lower, at $1.6039 from $1.6080, while the dollar rose to 0.9102 Swiss franc from 0.9092 franc.
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