RTTNews - The dollar weakened versus its major counterparts from across the Atlantic Thursday morning as US stock futures headed higher, fueling renewed risk appetite.
The European Central Bank held its key interest rate at a record low 1 percent for the fourth straight month, it was announced Thursday morning.
Traders were looking to establish positions ahead of Friday's pivitol monthly jobs report. This morning will see the release of a key prelude in the form of weekly jobless claims figures, which are to be released by the Labor Department at 8.30 am ET.
At 10.00 am ET, the ISM will be releasing the results of its non-manufacturing survey for August. Economists predict that the non-manufacturing index will show a reading of 48 for August.
The dollar has been unable to sustain any direction over the past few weeks, with traders unsure about the health of the global economy. The safe haven currency has stabilized since hitting 2009 lows in early August, but has not managed to move far from those levels as some are still holding out hope for an economic recovery in the coming months.
Looking at this morning's currency charts, the dollar dropped to 1.4335 versus the euro, extending a run of choppy trading. With the loss, the buck stayed around a penny from an 8-month low set early in August.
The Eurostat reported that Eurozone retail sales declined 0.2% in July from June, after staying flat in June. The statistical office revised June's figure from the initial estimate of 0.2% drop.
The buck fell sharply versus the sterling Thursday morning, slipping to a 10-day low of 1.6410.
Meanwhile, the dollar steadied versus the yen, holding near 92.40 after hitting a 7-week low below 92. A move to 87 would take the dollar to its lowest level in years.
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