|From Xinhuanet.com: The U.S. dollar rose against the pound but fell against the euro Thursday on weak economic data and rising U.S. stocks. The U.S. Labor Department reported Thursday that jobless claims last week increased by 32,000 to a seasonally adjusted 516,000, the highest level after the Sept. 11 terrorist attacks.
The jobless data was much higher than expected and the first time it topped 500,000 in the current slowdown. It is the latest sign that times are getting tougher. A reading above 400,000 is considered a sign of recession...... Full Article: Source