NEW YORK (CNNMoney.com) -- The dollar slipped against the euro and the pound Thursday but rose against the yen as investors digested mixed U.S. economic news.
What prices are doing: The dollar edged 0.2% lower on the euro to $1.3678 and fell 0.6% versus the pound to $1.5036. The buck was flat against the yen at ¥90.52.
The dollar was higher against the yen and the pound Wednesday, and lower on the euro.
What's moving the market: Investors weighed mixed U.S. economic data on jobless claims and the trade balance.
The Commerce Department said the trade deficit narrowed to $37.3 billion in January from $39.9 billion a month earlier. Economists expect the trade deficit to increase to $41 billion from $40.2 billion in December.
But the report also showed that exports fell for the first time in almost a year and imports slipped 1.7%, the largest decline in 11 months.
The Labor Department's report on claims for unemployment insurance showed that while initial claims fell by a modest 6,000 to 462,000, continuing claims jumped by 37,000, highlighting the labor market's long-term unemployment challenges.
Economists surveyed by Briefing.com expect initial claims to fall to 460,000, with continuing claims remaining unchanged at 4.5 million.
What analysts are saying: While the smaller trade deficit should boost the dollar, fewer imports and exports weighed on the greenback.
Forex.com chief currency strategist Brian Dolan said investors will keep currency trading in a tight range ahead of U.S. retail sales data due Friday.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.20%||4.30%|
|15 yr fixed||3.28%||3.30%|
|30 yr refi||4.18%||4.27%|
|15 yr refi||3.26%||3.27%|
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