NEW YORK (Reuters) – The dollar strengthened against a basket of currencies on Thursday on encouraging U.S. inflation and labor data, while sterling weakened after the European Union allowed Britain to postpone its exit from the bloc for a second time.
FILE PHOTO: British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration
The euro remained under pressure a day after European Central Bank President Mario Draghi made glum comments on the euro-zone economy.
First-time filings for U.S. jobless benefits dropped to a 49-1/2-year low last week, pointing to sustained labor market strength that could counter fears of a sharp slowdown in U.S. economic growth. Overall producer prices grew 0.6% in March, the most in five months, while the underlying wholesale inflation rose by a milder 0.3%.
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