Upbeat data lift dollar; pound slips after Brexit delay

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%.

Source: https://www.reuters.com/article/uk-global-forex-idUSKCN1RN03F?utm_campaign=trueAnthem:+Trending+Content&utm_content=5caec66500e48b00017ea4d2&utm_medium=trueAnthem&utm_source=twitter

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