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US dollar edges lower after disappointing jobless claims data

The US dollar decreased modestly in late trading after data showed the number of Americans filing for unemployment benefits jumped back above 1 million last week.

The dollar index, which measures the greenback against six major peers, fell 0.09 per cent at 92.7998.

In late New York trading, the euro decreased to $1.1850 from $1.1856 in the previous session, and the British pound rose to $1.3207 from $1.3115 in the previous session. The Australian dollar was down to $0.7191 from $0.7203, Xinhua reported.

The US dollar bought 105.77 Japanese yen, lower than 105.90 Japanese yen of the previous session. The US dollar was down to 0.9084 Swiss franc from 0.9136 Swiss franc, and it decreased to 1.3178 Canadian dollars from 1.3186 Canadian dollars.

US initial jobless claims, a rough way to measure layoffs, increased by 135,000 to 1.106 million in the week ending August 15, reflecting a still-elevated level of joblessness in the nation, the Department of Labor reported.

Economists polled by MarketWatch had forecast 910,000 new claims during the week..