Euro jumps to 14-month high against dollar

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Associated Press

Posted on January 31, 2013 at 1:00 PM

Updated Thursday, Jan 31 at 1:02 PM

NEW YORK (AP) — The euro hit a 14-month high against the dollar after the release of the latest U.S. jobs and consumer spending data.

The Labor Department said Thursday that weekly applications for unemployment benefits rose 38,000 to a seasonally adjusted 368,000. And the Commerce Department says that consumer spending rose 0.2 percent last month, at a slightly slower pace than the 0.4 percent increase in November.

All eyes are now on the January employment report, set for release Friday.

The euro jumped as high as $1.3594, its highest point against the dollar since Nov. 18, 2011. The euro was worth

The dollar jumped to 91.409 Japanese yen, its highest point against the yen since June 21, 2010, on expectations that Japan will continue to keep interest rates low to boost the economy

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