Dollar gives up 16-month peak on profit-taking

The US dollar fell against a basket of currencies on Thursday, and pulled back from a 16-month peak, to head for the first daily loss in 5 days due to profit-taking.

The dollar index fell 0.2% to 96.65 points, after opening at 96.80 points, and hit a high at 96.81 points.

The index fell 0.4% yesterday, the fourth straight daily gain, due to profit-taking from a 16-month peak of 96.93 points.

The US Department of Labor revealed that the number of initial unemployment claims fell to the lowest level since 1969.

The Federal Reserve meeting minutes showed the bank's members are open to accelerating the reduction of bond-buying program if inflation continues to rise, while speeding up raising interest rates.

President of the Federal Reserve Bank of San Francisco, Mary Daly, said in an interview with Yahoo Finance that she would be open to speeding up the pace of tapering the Fed's bond-buying program.