U.S. Dollar Declines Amid Higher Jobless Claims
08:20, 9th May 2024
(RTTNews) - The U.S. dollar fell against its major counterparts in the New York session on Thursday, as weekly jobless claims rose more than expected last week, the highest level since August 2023.
Data from the Labor Department showed that initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week's revised level of 209,000.
Economists had expected jobless claims to inch up to 210,000 from the 208,000 originally reported for the previous week.
The data fuelled hopes that the labor market might be softening.
The greenback dropped to 2-day lows of 1.0762 against the euro and 0.9064 against the franc, from its early 6-day highs of 1.0723 and 0.9098, respectively.
The greenback touched a 2-day low of 1.2511 against the pound, down from an early fresh 2-week high of 1.2445.
The greenback eased to 155.51 against the yen, reversing from an early 1-week high of 155.95.
The greenback weakened to 2-day lows of 1.3705 against the loonie, 0.6607 against the aussie and 0.6020 against the kiwi, off its early highs of 1.3737, 0.6565 and 0.5992, respectively.
The greenback is seen finding support around 1.09 against the euro, 0.88 against the franc, 1.27 against the pound, 147.00 against the yen, 1.34 against the loonie, 0.68 against the aussie and 0.62 against the kiwi.
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