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Dollar falls after strong US jobs data

Associated Press Modified: October 11, 2012 at 3:45 pm •  Published: October 11, 2012

NEW YORK (AP) — The dollar fell against most other currencies Thursday after the number of Americans seeking unemployment benefits fell last week to the lowest level in four years.

The Labor Department said Thursday that claims fell to 339,000 last week, the lowest since February 2008.

Last week, the government said that the unemployment rate fell to 7.8 percent in September. It was the first time the rate fell below 8 percent since January 2009.

Traders tend to buy riskier currencies, such as the euro, when they think the economy is getting better.

The euro rose to $1.2929 late Thursday from $1.2897 late Wednesday. The British pound rose to $1.6043 from $1.6008.

The dollar fell to 0.9347 Swiss franc from 0.9385 Swiss franc and to 97.89 Canadian cents from 98.08 Canadian cents.

The dollar rose to 78.34 Japanese yen from 78.19 yen.


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