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US dollar weakens amid downbeat data

US dollar weakens amid downbeat data

NEW YORK, July 19 (Xinhua): The U.S. dollar declined against its major rivals in late trading on Thursday as market participants digested a slew of downbeat data. U.S. initial jobless claims, a rough way to measure layoffs, registered 216,000 in the week ending July 13, an increase of 8,000 from the previous week's revised level, the Department of Labor said on Thursday. Meanwhile, the U.S. leading economic index (LEI) declined 0.3 percent in June to 111.5, indicating a slowing growth of the economy, according to the latest report released by The Conference Board. The LEI is a weighted gauge of 10 indicators designed to signal peaks and troughs in the business cycle. The dollar index, which measures the greenback against six major peers, was down 0.44 percent at 96.8041 in late trading. In late New York trading, the euro increased to 1.1266 dollars from 1.1222 dollars in the previous session, and the British pound rose to 1.2538 dollars from 1.2436 U.S. dollars in the previous session. The Australian dollar was up to 0.7066 dollar from 0.7015 dollar. The U.S. dollar bought 107.51 Japanese yen, lower than 108.09 Japanese yen of the previous session. The U.S. dollar fell to 0.9832 Swiss franc from 0.9870 Swiss franc, and it was up to 1.3045 Canadian dollars from 1.3041 Canadian dollars.

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