The euro held its level from late European trading in US trading on Thursday.
Most recently, the common currency, the euro, cost 1.0862 US dollars. The European Central Bank (ECB) set the reference rate at 1.0875 (Wednesday: 1.0877) dollars. The dollar therefore cost 0.9195 (0.9193) euros.
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New figures from the labor market attracted attention. Weekly initial jobless claims fell significantly and are only just above their record low. The development demonstrates the solid state of the US labor market.
For the central bank Fed, the data primarily means concerns about inflation. A tight labor market suggests wage increases, which can further fuel inflation. Because inflation is trending downward, the Fed is expected to cut interest rates this year. However, a robust economy could prompt US monetary authorities to tighten for longer monetary policy to hold on. This strengthens the dollar and weighs on other currencies such as the euro.
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NEW YORK (dpa-AFX)