* Dollar supported by solid U.S. data
* Sterling falls as no-deal Brexit concern grows
* RBNZ unexpectedly commits to keep rates at record lows
* New Zealand dollar slides to lowest level since March 2016
* Turkish lira falls to record low
(Updates prices, adds new comment, Turkish lira)
By Gertrude Chavez-Dreyfuss
NEW YORK, Aug 9 (Reuters) - The dollar rose against most major
currencies on Thursday in thin summer trading, as investors bet global
trade tensions and a robust American economy would continue to support
the U.S. currency.
The greenback has the upper hand over emerging market currencies
in a trade war scenario, analysts said, and tariffs may actually
narrow the U.S. trade deficit.
Sterling on Thursday continued to slide, hitting $1.2879 following
a drop to $1.2854 on Wednesday.
The pound is weakening as investors ramp up bets that Britain will
leave the European Union without an agreement with Brussels on their
In the United States, better-than-expected data on initial jobless
claims and generally rising producer prices helped the dollar hold its
"Higher consumer prices, which are on the cards, would be
supportive of both the dollar and the Federal Reserve, raising rates
further this year," said Joe Manimbo, senior market analyst at
Western Union Business Solutions in Washington.
The dollar's gains, however, have been more pronounced against
emerging market currencies because an escalation in the U.S.-China
trade war would hit their export-oriented economies harder.
The dollar index was up 0.4 percent at 95.454. It rose to a
year-high of 95.652 on July 19 but has since struggled to break much
above the 95.5 level.
Thursday's big mover was the New Zealand dollar, which fell nearly
2 percent to US$0.6613 , after earlier plunging to U.S.$0.6634, its
lowest level since March 2016.
The tumble was in response to the Reserve Bank of New Zealand
unexpectedly committing on Thursday to keep interest rates at record
lows through to 2020 on disappointing economic activity.
Reflecting concerns among investors about geopolitical tensions,
including the U.S.-China trade war and Brexit, the yen rose before
trading flat against the dollar.
Currency markets this summer have been dominated by political
angst from U.S. sanctions on Russia and Turkey to rising tensions in
the Middle East and Europe.
The Russian ruble retreated in overnight trading to its lowest
level since November 2016, weakening beyond the psychologically
important 65-per-dollar threshold, after Washington said it would
impose fresh sanctions on Moscow
The Turkish lira touched a record low against the dollar,
weakening some 2.5 percent from Wednesday's close, after a Turkish
delegation met U.S. officials to try to resolve disputes between the
two NATO allies .
"Turkey's financial situation is the direst it has been in
years," said Cristian Maggio, head of emerging markets strategy
at TD Securities in London, with the Turkish lira having plunged 10
percent against the dollar since the end of July.
"The second-worst performing currency is the ruble, which
also suffers, like Turkey, from negative political factors. Unlike
Turkey, however, the ruble remains supported by a strengthening and
better-balanced economy, and by credible and well-implemented monetary policy."
Currency bid prices at 2:23PM (1823 GMT)
Description RIC Last U.S. Close Pct Change
YTD Pct High Bid Low Bid
Euro/Dollar EUR= $1.1551 $1.1610 -0.51%
-3.71% +1.1619 +1.1549
Dollar/Yen JPY= 110.9800 110.9700 +0.01%
-1.50% +111.1800 +110.7200
Euro/Yen EURJPY= 128.20 128.81 -0.47%
-5.16% +129.0000 +128.2100
Dollar/Swiss CHF= 0.9924 0.9932 -0.08%
+1.86% +0.9951 +0.9895
Sterling/Dollar GBP= 1.2848 1.2879 -0.24%
-4.91% +1.2911 +1.2836
Dollar/Canadian CAD= 1.3053 1.3021 +0.25%
+3.78% +1.3063 +1.3000
Australian/Doll AUD= 0.7383 0.7431 -0.65%
-5.36% +0.7453 +0.7383
Euro/Swiss EURCHF= 1.1465 1.1532 -0.58%
-1.92% +1.1536 +1.1453
Euro/Sterling EURGBP= 0.8990 0.9012 -0.24%
+1.20% +0.9030 +0.8984
NZ NZD= 0.6619 0.6745 -1.87%
-6.59% +0.6747 +0.6613
Dollar/Norway NOK= 8.2942 8.2155 +0.96%
+1.06% +8.3039 +8.2117
Euro/Norway EURNOK= 9.5818 9.5408 +0.43%
-2.69% +9.5943 +9.5332
Dollar/Sweden SEK= 8.9955 8.9476 +0.00%
+9.68% +8.9979 +8.9482
Euro/Sweden EURSEK= 10.3929 10.3930 +0.00%
+5.63% +10.4195 +10.3843
(Reporting by Gertrude Chavez-Dreyfuss Editing by Alistair Bell and
((firstname.lastname@example.org; 646-223-6322; Reuters