The dollar held largely steady Thursday ahead of a raft of data that could offer further evidence on whether an economic recovery remains under way in the U.S. The ICE dollar index , which measures the greenback's movement against six other major currencies, was at 83.799 versus 83.795 on Wednesday. The WSJ Dollar Index , an alternative gauge of the currency's moves against a slightly wider basket, edged up to 75.27 from 75.24. The dollar briefly climbed against the Japanese yen after Japan said stronger household consumption and exports helped the economy grow 0.9% in the first quarter, surpassing expectations. The greenback rose to around ¥102.25, but then lost grip of the slight gain by softening to ¥102.15. The dollar late Wednesday traded at ¥102.23. Quarterly gross domestic product figures from France, Germany and the euro zone that fell short of expectations had supported broad gains for the dollar on Wednesday. The euro exchanged for $1.2871 on Thursday, down from $1.2880 Wednesday, when the euro hit a six-week low against the greenback. Later Thursday, a raft of data from the U.S. will be under assessment. That includes weekly figures on jobless claims, as the Federal Reserve has listed improvement in the labor market as a key factor in deciding when it will start tapering down bond purchases aimed at stimulating growth. Analysts polled by MarketWatch expect the number of new claims for unemployment benefits to rise to 330,000. Jobless claims, a rough gauge of layoffs, in the prior week fell to 323,000 — the lowest level in five years. “Additionally, there are no less than five Fed speakers on tap [Thursday], with any clues on a tapering off of asset purchases sought," Crédit Agricole head of global markets research Mitul Kotecha told clients. He said the ICE dollar index is set to test its 2012 high of 84.10, “but is likely to consolidate in the near-term given the pull back in yields." A snapshot of activity in the manufacturing sector, which has been sluggish lately, is also expected from the Philadelphia Federal Reserve. Also due are reports on consumer prices and new-home construction in April. Elsewhere on Thursday, the British pound was unchanged at $1.5225, and the Australian dollar bought 98.74 U.S. cents, extending losses from Wednesday's level at 98.85 U.S. cents. Marketwatch
