The greenback regained ground against its major counterparts in New York trade Thursday, after a report showed that initial jobless claims pulled back more than expected in the week ended March 21st.
The greenback, which fell to a weekly low of 1.4993 against the pound at 5:30 am ET, recovered to 1.4881. The greenback may possibly challenge resistance around the 1.48 zone.
After falling to a 3-week low of 1.1051 against the euro in European morning deals, the dollar changed its direction with pair trading at 1.0960. Next possible resistance for the greenback may be located around the 1.05 region.
The Labor Department report showed that initial jobless claims fell to 282,000, a decrease of 9,000 from the previous week's unrevised level of 291,000. Economists had expected jobless claims to edge down to 290,000
The dollar that had been seen a relentless slide in the aftermath of yesterday's weak durable goods orders data got some relief after jobless claims.
Atlanta Federal Reserve Bank President Dennis Lockhart said that the central bank is likely to raise rates by mid year or even later, as the economy is performing in a mixed manner.
"We are coming to a point where we are seriously going to look at a decision to raise rates," he told in an interview with CNBC.
Tomorrow traders will be expecting the third estimate of US GDP data for the fourth quarter and consumer sentiment index for further clues about the economy's strength.
Looking ahead, Swiss National Bank member Fritz Zurbrugg will deliver a
speech about monetary policy after the cap at the Money Market Event, in
Zurich at 1:00 pm ET.
At 1:30 pm ET, Bank of England Governor Mark Carney will hold a press conference about his role as Chair of the Financial Stability Board, in Frankfurt.
