Friday, September 11, 2009

NEW YORK: The euro rose versus the dollar on Thursday, hitting a new high for 2009 after a report showed a drop in the number of new US jobless claims last week. Analysts said the improvement in the weekly labor data supports investors recent demand for riskier investments in stocks, commodities and other currencies. The US dollar tends to benefit from higher risk aversion in global markets as it is perceived as a safe-haven asset and sells off when appetite for risk increases. The jobless claims data looks like a pretty healthy improvement from the previous week. We saw a healthy decline in both the initial claims number and the continued claims component of the report, said Omer Esiner, a senior market analyst at Travelex Global Business Payments in Washington. What we re seeing this morning is a little bit of an improvement in risk appetite. As a result, the US dollar is falling once again pretty much across the board, Esiner said.


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