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2014.06.2623:24:20UTC+00Dollar wipes out gains as US data hints stable Fed policy

The US dollar wiped out its profits to trade even versus a basket of major currencies on Thursday following figures implied growth was inching up after a dismal 1st quarter but was not vital enough to give a decisive assist to the currency.

The Commerce Department reported consumer spending climbed 0.2% in May after being even in April. In a separate report, the Labor Department said new applications for state unemployment benefits tumbled 2,000 to 312,000 for the week through June 21.

The US dollar index, gauging the greenback against a basket of six major currencies, was last flat at 80.222.

The dollar dropped 0.14% versus the yen to 101.720 on safe-haven bids for the Japanese currency after moderate weakness in US stocks. The dollar inched up 0.1% against the Swiss franc at 0.8935.

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