Euro jumps to 14-month high against dollar

Euro jumps to 14-month high against dollar after US jobs and consumer spending data

Associated Press

NEW YORK (AP) -- The euro hit a 14-month high against the dollar Thursday after the release of the latest U.S. jobs and consumer spending data.

The Labor Department said Thursday that weekly applications for unemployment benefits rose by 38,000 to a seasonally adjusted 368,000. And the Commerce Department said that consumer spending rose 0.2 percent last month, at a slightly slower pace than the 0.4 percent increase in November.

All eyes are now on the January employment report, set for release Friday.

The euro rose to $1.3574 in late trading Thursday from $1.3567 late Wednesday. The euro jumped as high as $1.3594 earlier, its highest point against the dollar since Nov. 18, 2011.

The dollar rose to 91.38 Japanese yen from 91.20 yen. The dollar jumped as high as 91.55 Japanese yen Thursday, its highest point against the yen since June 16, 2010, on expectations that Japan will continue to keep interest rates low to boost the economy.

In other trading, the British pound rose to $1.5859 from $1.5793.

The dollar fell to 0.9098 Swiss franc from 0.9111 Swiss franc and to 99.76 Canadian cents from 1.0015 Canadian dollar.

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