Dollar mixed on cloudy economic outlook

By Ben Rooney, staff reporter


NEW YORK (CNNMoney.com) -- The dollar was mixed against other currencies Thursday amid concerns about the outlook for the U.S. economy.

What prices are doing: The dollar was down 0.1% versus the euro to $1.2327. But it gained 0.2% versus the U.K. pound to $1.4928.

Against the Japanese yen, the dollar was down 0.3% to ¥89.52.

What's moving the market: The dollar came under pressure in the previous session after the Federal Reserve issued an assessment of the economy that disappointed some investors.

As expected, the central bank held interest rates steady near zero percent.

But Fed policymakers said in a statement that economic growth is likely to stay moderate for a while, although activity has improved. In addition, they were concerned about the weakness in the housing market and the "less supportive" financial conditions as a result of the European debt crisis.

"The statement was slightly more pessimistic than previously with comments that financial conditions were now less supportive of growth," currency analysts at Sucden Financial said in a research report.

Economic reports out Thursday were mixed.

The Labor Department said the number of Americans filing new claims for unemployment fell to 457,000 last week from a revised 472,000 in the previous week.

Durable goods orders fell 1.1% in May, the Commerce Department reported. That was better than the 1.3% drop that was expected. Orders rose 3% in April.

But orders excluding transportation rose 0.9% in May versus forecasts for a rise of 1.3%. Orders ex-transportation fell 0.8% in the previous month. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.77%3.60%
15 yr fixed2.88%2.74%
5/1 ARM2.66%2.54%
30 yr refi3.76%3.58%
15 yr refi2.88%2.73%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 15,294.50 -12.67 -0.08%
Nasdaq 3,459.42 -3.88 -0.11%
S&P 500 1,650.51 -4.84 -0.29%
Treasuries 2.02 -0.00 -0.15%
Data as of 11:29pm ET
Company Price Change % Change
Bank of America Corp... 13.21 -0.10 -0.75%
Hewlett-Packard Co 24.86 3.63 17.10%
Micron Technology In... 11.39 0.47 4.30%
Dean Foods Co 20.41 0.46 2.31%
Pfizer Inc 29.11 -0.19 -0.65%
Data as of 4:13pm ET

Sections

Health insurers in California will charge an average of $304 a month for the cheapest silver-level plan in state-based exchanges next year, according to rates released Thursday by Covered California, which is implementing the Affordable Care Act there. But many residents will pay a lot less than that for coverage. More

The Obamacare employer mandate forces businesses with 50-plus workers to provide insurance. But many keep getting that cutoff number wrong, saying it's 51. More

The tornado that struck the Moore, Okla., area Monday afternoon left an almost 2-mile wide path of destruction, flattening homes and businesses and taking at least 24 lives. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.