The dollar recorded a 3-week high despite grim US data

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The dollar recorded a 3-week high despite grim US data

Reuters

The dollar recorded a 3-week high despite grim US data

The dollar rose Thursday to its highest level in 3 weeks with dealers turning a blind eye to 3 million new jobless claims in one week, in an indication of a wave of new layoffs due to Corona.

The Japanese yen and Swiss franc both fell against the dollar and settled against the euro, while US stocks closed higher, suggesting that betting on the dollar was not part of a wider risk aversion.

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Against a basket of currencies, the dollar rose 0.20 percent to hit its 100.37 index, after hitting a three-week high of 100.56 earlier in the session.

The euro fell 0.23 percent to 1.079 dollars.

“Economic fundamentals remain bleak on both sides of the Atlantic, and markets continue to examine the data,” wrote analysts at Action Economics.

Earlier in the session, the British pound fell below the level of $ 1.22 for the first time in more than five weeks after data showed Wednesday that the British economy contracted an unprecedented 5.8 percent in March with the acceleration of the Corona virus crisis, and the currency recovered later, to record $ 1.222 in the latest Her price, down 0.06 percent.

Source: Reuters

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