The weak dollar is becoming cheaper to most world currencies

The weak dollar is becoming cheaper to most world currencies


The dollar declines on the data on the U.S. labor market. The dollar index early in the day down 0.03 percent to 97,96 points. The Euro-dollar exchange rate fell to 1,0883 with 1,0884 dollar dollar per Euro on the previous closing.

MOSCOW, 6 Nov. The dollar on Friday, declining for most world currencies against the background of statistics on the U.S. labor market, according to AFP.

As of 07.45 GMT, the dollar index (the dollar against a basket of six currencies of major US trading partners) fell by 0.03 percent to 97,96 points. The Euro-dollar exchange rate fell to 1,0883 with 1,0884 dollar dollar per Euro on the previous closing. The dollar exchange rate to yen has fallen to 121,74 yen per dollar with 121,75 yen per dollar.

According to the U.S. Department of labour, the number of initial applications for unemployment benefits in the country for the week ending October 31 increased by 16 thousand compared to the figures of previous period to 276 thousand. Analysts had expected the saving rate at the level of the previous week — 260 thousand. The average number of initial claims for four weeks ended October 31 increased from the previous week by 3.5 thousand to 262,75 thousands.

The number receiving unemployment benefits for the week ended 24 October, grew by 17 thousand compared with a revised reading of the previous week and amounted to 2,163 million people. Figure of the previous week was revised upwards by 2 thousand — up to 2,146 million people.

A slight strengthening of the American currency against the Euro contribute to the expectations of monthly data on the labor market of the country. So, later Friday will be released data on unemployment in the country in October. Analysts believe that it has been preserved at the level of September’s 5.1%. While the number of newly created jobs in non-agricultural sectors of the economy, according to experts, grew by 180 million against 142 thousand in September.