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Thu, 25 Dec, 2014 12:07:11 AM FTimes - Xinhua Report, Dec. 25
The U.S. dollar went down against most major currencies on Wednesday after its sharp gain in the previous session on news that the country's third quarter economy grew more than expected.
The dollar index, which measures the greenback against six major currencies, was down 0.18 percent at 89.900 in late trading.
The index touched 90.093, the highest level since April 2006 in the previous session as report showed America's gross domestic product (GDP) advanced at an annual rate of 5.0 percent in the third quarter, making the strongest pace in more than a decade.
Analysts said the greenback pared some gains on Wednesday amid market speculation that its recent rally was too rapid. The upward momentum of U.S. economy had well supported investors' expectation that the Federal Reserve would raise interest rates in mid-2015.
On the economic front, the U.S. Labor Department said on Wednesday that in the week ending Dec. 20, the advance figure for seasonally adjusted initial jobless claims in the U.S. was 280,000, a decrease of 9,000 from the previous week's unrevised level of 289,000.
In late New York trading, the euro increased to 1.2200 dollars from 1.2178 dollars in the previous session, and the British pound went up to 1.5557 U.S. dollars from 1.5519 dollars. The Australian dollar edged up to 0.8109 dollar from 0.8097 dollar.
The U.S. dollar bought 120.46 Japanese yen, lower than 120.73 yen of the previous session. The U.S. dollar went down to 0.9856 Swiss francs from 0.9874 Swiss francs, and it rose to 1.1628 Canadian dollars from 1.1616 Canadian dollars.
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