WASHINGTON (dpa-AFX) - The U.S. dollar recovered after early weakness on Thursday, but struggled to make a significant move up north, amid conflicting news about U.S.-China trade talks and a mixed batch of economic data.
Dollar stayed above the flat line for much of the day, as the minutes of the Federal Reserve's October monetary policy meeting suggested the central bank is very likely to hold rates unchanged in the near term.
A report from Reuters on Wednesday said completion of a phase one U.S.-China trade deal could slide into next year.
The passage of a Senate bill supporting protesters in Hong Kong by the U.S. House of Representatives and the warning issued to China about human rights added to the tensions between the world's two largest economies.
Later on, media reports said Chinese Vice-Premier Liu He has invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing for further negotiations.
The dollar index, which was down at 97.73 earlier in the day, advanced to 98.03 around early afternoon, and was last seen at 97.97, up 0.04% from previous close.
Against the Euro, the dollar was trading at $1.1062, compared with previous close of $1.1075.
The pound sterling weakened to $1.2906 from $1.2924.
The Japanese Yen was little changed at 108.61 a dollar.
The dollar was weak against the loonie with the dollar-loonie part at 1.3282.
The dollar gained against the Aussie at 0.6787, while it was up 0.22% against Swiss franc, at 0.9931.
In economic news today, the Labor Department's report showed first-time claims for U.S. unemployment benefits came in unchanged in the week ended November 16th.
A report from the Federal Reserve Bank of Philadelphia showed regional manufacturing activity growth accelerated by more than anticipated in the month of November.
The Philly Fed said its diffusion index for current general activity climbed to 10.4 in November after falling to 5.6 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 7.0.
According to a report released by the National Association of Realtors, existing home sales jumped by 1.9% to an annual rate of 5.46 million in October after tumbling by 2.5% to a revised rate of 5.360 million in September. Economists had expected existing home sales to surge up by 1.4% compared to the 2.2% slump originally reported for the previous month.
Meanwhile, a report released by the Conference Board on Thursday showed a modest decrease by its reading on leading U.S. economic indicators in the month of October.
Copyright RTT News/dpa-AFX
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