FOREX-U.S. dollar dips vs major peers after mixed data; yen rises – Yahoo Finance

(Recasts, provides analyst remark, U.S. knowledge, bullets, FX desk, byline, NEW YORK dateline; updates costs) * U.S. housing begins fall in December * Philly Fed manufacturing index falls lower than anticipated * U.S. jobless claims drop By Gertrude Chavez-Dreyfuss and Harry Robertson NEW YORK/LONDON, Jan 19 (Reuters) – The greenback slid on Thursday towards main currencies in uneven buying and selling as a slew of information continued to indicate that the U.S. financial system was slowing down within the wake of a number of hefty charge hikes from the Federal Reserve, with the market anticipating a pause in tightening this yr. The yen, however, rallied towards the greenback as merchants continued to wager the Financial institution of Japan (BOJ) will ultimately shift away from ultra-loose financial coverage. Thursday's knowledge confirmed that total U.S. housing begins declined 1.4% to a charge of 1.382 million models final month. Constructing permits dropped as nicely, down 1.6% o a charge of 1.330 million models. Manufacturing exercise within the Mid-Atlantic area softened once more in January. The Philadelphia Fed's month-to-month manufacturing index rose to unfavorable 8.9 this month from unfavorable 13.7 in December, a bigger enchancment than economists in a Reuters ballot had anticipated. The median estimate was for unfavorable 11. Circumstances total have been labeled because the least unfavorable in three months in a survey of products producers that additionally confirmed inflation pressures – measured by the costs paid index – dropping to 24.5 in January from 36.3 final month. That was the bottom in practically two-and-a-half years. Nevertheless, preliminary claims for state unemployment advantages dropped 15,000 to a seasonally-adjusted 190,000 for the week ended Jan. 14. Economists polled by Reuters had forecast 214,000 claims for the newest week. Edward Moya, senior market analyst, at OANDA in New York mentioned the financial system is clearly weakening. "The housing market is in recession and also you're going to get these regional Fed surveys which are weak and are going to indicate that enterprise exercise is struggling," he mentioned. "However the preliminary jobless claims report reinforces that this labor market stays robust. The labor market wants to interrupt for inflation to proceed go down," he added. In late morning buying and selling, the greenback fell 0.4% towards the yen to 128.475 yen, a day after the BOJ's choice to face pat on its ultra-loose financial coverage. The rebound within the yen can be "reflecting the truth that market members are nonetheless speculating (on) a shift within the Financial institution of Japan's coverage," Carol Kong, a forex strategist at Commonwealth Financial institution of Australia, mentioned of the yen's rise on Thursday. The euro was final flat towards the greenback at $1.0806. It hit a nine-month excessive of $1.089 on Wednesday earlier than paring good points. European Central Financial institution President Christine Lagarde on Thursday mentioned inflation is way too excessive and that the ECB will preserve elevating rates of interest. "We will keep the course till such a time when now we have moved into restrictive territory for lengthy sufficient in order that we will return inflation to 2% in a well timed method," she mentioned in a panel dialogue through the World Financial Discussion board in Davos, Switzerland. The greenback index, which measures the U.S. forex towards a basket of friends, was final flat to barely decrease at 102.28. Sterling was barely down at $1.2344, after falling from the earlier session's one-month excessive of $1.244. The Australian greenback slumped 0.6% to US$0.69, additional pressured by a shock dip in Australian employment in December. In the meantime, the New Zealand greenback misplaced 0.9% to face at US$0.6389. New Zealand Prime Minister Jacinda Ardern on Thursday made a shock announcement that she would step down no later than early February and never search re-election. ======================================================== Foreign money bid costs at 10:39AM (1539 GMT) Description RIC Final U.S. Shut Pct Change YTD Pct Excessive Bid Low Bid Earlier Change Session Greenback index 102.3400 102.3300 +0.03% -1.111% +102.4800 +102.1000 Euro/Greenback $1.0794 $1.0795 +0.00% +0.75% +$1.0839 +$1.0782 Greenback/Yen 128.6100 128.9400 -0.25% -1.90% +128.8500 +127.7700 Euro/Yen 138.82 139.16 -0.24% -1.05% +139.4200 +137.9200 Greenback/Swiss 0.9170 0.9166 +0.04% -0.83% +0.9189 +0.9149 Sterling/Greenback $1.2344 $1.2349 -0.03% +2.08% +$1.2364 +$1.2314 Greenback/Canadian 1.3476 1.3493 -0.12% -0.53% +1.3520 +1.3456 Aussie/Greenback $0.6897 $0.6941 -0.61% +1.21% +$0.6948 +$0.6872 Euro/Swiss 0.9897 0.9888 +0.09% +0.02% +0.9931 +0.9885 Euro/Sterling 0.8742 0.8743 -0.01% -1.15% +0.8787 +0.8739 NZ $0.6385 $0.6445 -0.93% +0.56% +$0.6449 +$0.6369 Greenback/Greenback Greenback/Norway 9.9185 9.9220 -0.16% +0.94% +9.9650 +9.8925 Euro/Norway 10.7081 10.6878 +0.19% +2.04% +10.7683 +10.6900 Greenback/Sweden 10.3580 10.3337 +0.21% -0.48% +10.3642 +10.2520 Euro/Sweden 11.1776 11.1539 +0.21% +0.25% +11.1877 +11.0968 (Reporting by Gertrude Chavez-Dreyfuss in New York and Harry Robertson in London; Further reporting by Rae Wee in Singapore; Modifying by Gerry Doyle, Kim Coghill and Sharon Singleton)
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