This post was originally published on this site
© Reuters. The U.S. dollar continues to fall.© Reuters. The U.S. dollar continues to fall.

Investing.com – The dollar fell against other currencies on Thursday after disappointing U.S. economic data.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.49% to 91.66 as of 11:51 AM ET (16:51 GMT).

The greenback was hit after reports showed that U.S. unexpectedly fell in December, the first drop in almost one-and-a-half years, while unexpectedly rose last week.

The Labor Department reported that its producer price index slipped 0.1% last month, the first decline since August 2016.

A separate report showed that initial claims for unemployment benefits increased by 11,000 to 261,000 last week, the highest level since late September.

The dollar was also held back by a strong euro. was at a high of 1.20343, up 0.80% for the day.

The euro strengthened after the minutes of the European Central Bank’s December meeting said officials could consider a gradual shift in policy guidance from early 2018.

Any changes to the bank’s guidance would likely be seen by investors as an indication that policymakers are preparing to start winding down their bond buying stimulus program.

Elsewhere, the dollar pared back gains against the yen, with down 0.05% to 111.38. The Australian and New Zealand dollars were up, with rising 0.48% to 0.7880 and increasing 0.63% to 0.7243.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.