10 Feb '11, 11pm

US dollar gains on jobs data, Mideast worries

WASHINGTON: The US dollar gained ground against the euro on Thursday as US jobs data showed improvement and political unrest in Egypt and the Middle East prompted caution. At 2200 GMT the euro was at $1.3601, compared to $1.3727 at the same time Wednesday. The dollar pushed up against the yen as well, buying 83.20 yen against 82.35 a day earlier. Nick Bennenbroek of Wells Fargo suggested the euro's recent strength had run its course. "The euro started 2011 on a positive note, gaining by over two percent versus the US dollar during the month of January. "However, the good news that had propelled the euro higher has started to wane and the single currency is entering into a more uncertain period," he said. US jobs data also helped the greenback. The Labour department reported on Thursday that the number of new claims for unemployment insurance tumbled last week to a two-year...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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