Thu, 24 Sep 2020

U.S. dollar edges lower amid jobless claims data

Xinhua
07 Aug 2020, 05:44 GMT+10

NEW YORK, Aug. 6 (Xinhua) -- The U.S. dollar fell modestly in late trading on Thursday after data showed nearly 1.19 million Americans applied for unemployment benefits last week.

The dollar index, which measures the greenback against six major peers, was down 0.07 percent at 92.8025.

In late New York trading, the euro increased to 1.1873 U.S. dollars from 1.1860 dollars in the previous session, and the British pound rose to 1.3149 dollars from 1.3115 U.S. dollars in the previous session. The Australian dollar increased to 0.7234 U.S. dollar from 0.7192 dollar.

The U.S. dollar bought 105.57 Japanese yen, lower than 105.62 Japanese yen of the previous session. The U.S. dollar was up to 0.9103 Swiss franc from 0.9084 Swiss franc, and it increased to 1.3289 Canadian dollars from 1.3280 Canadian dollars.

The moves came after data showed the COVID-19 pandemic continues to weigh on the U.S. labor market.

U.S. initial jobless claims, a rough way to gauge layoffs, came in at 1.186 million in the week ending Aug. 1, following an upward revised 1.435 million in the prior week, the Department of Labor reported Thursday.

The latest figure marked the 20th straight week that new claims topped 1 million amid the pandemic crisis.

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