U.S. Dollar Extends Slide As Weekly Jobless Claims Climb More Than Forecast
04 February 2016 - 7:54PM
RTTF2
The U.S. dollar extended its early weakness against its key
counterparts in European trading on Thursday, after data showed
that first-time claims for U.S. unemployment benefits rose more
than expected in the week ended January 30th.
Data from the Labor Department showed that initial jobless
claims climbed to 285,000, an increase of 8,000 from the previous
week's revised level of 277,000.
Economist had expected jobless claims to inch up to 280,000 from
the 278,000 originally reported for the previous week.
The greenback fell to a 2-week low of 116.92 against the yen and
more than a 3-week low of 0.9942 against the franc, down from its
early highs of 118.24 and 1.0074, respectively.
The greenback declined to 1.1239 against the euro, its weakest
since October 22, 2015, while touching more than 4-week lows of
1.4668 against the pound, 0.6748 against the kiwi and 0.7241
against the aussie.
The greenback is likely to find support around 115.00 against
the yen, 0.98 against the franc, 1.15 against the euro, 1.48
against the pound, 0.69 against the kiwi and 0.74 against the
aussie.
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