Euro, Yen Climb as Dollar Rally Pauses

FOREX - NEW YORK. The euro and Japanese yen rose on Thursday as the U.S. dollar stalled after rallying to a nearly three-month high, but the greenback moved off earlier lows as data supported views for slower rate cuts by the Federal Reserve.

Weekly initial jobless claims fell to 227,000, below the 242,000 estimate of economists polled by Reuters, while continuing claims rose to a three-year high. The Fed is likely to discount the climb this month due to distortions from Hurricane Helene.