Dollar falls on upbeat economic data

The U.S. dollar declined in late New York trading session on Thursday as the euro rebounded slightly and U.S. positive economic data helped to stimulate optimism. International Monetary Fund chief Christine Lagarde said the organization would seek aid from countries outside the euro-zone to help with the region's debt crisis and warned that the world economic outlook is "gloomy". The euro recovered from 11-month trough against the dollar on Thursday as the pair climbed back to above 1.30. The U.S. Labor Department said initial jobless claims dropped sharply last week to the lowest level since 2008, suggesting that the U.S. labor market continued to improve. A separate report by the agency said that the producer price index rose 0.3 percent last month, which was below previous estimation and eased inflation concerns. The dollar declined as market sentiment turned positive. The dollar index lost 0.38 percent to 80.29 on Thursday. In late Thursday trading, the dollar bought 77.91 Japanese yen, comparing with 78.07 from late Wednesday. The euro rose to 1.3011 dollars from 1.2977. The British pound also rose to 1.5501 dollars from 1.5466. The dollar fell from 0.9533 Swiss francs to 0.9405, and also fell to 1. 0358 Canadian dollars from 1.0402.