Dollar slips ahead of expected surge in U.S. jobless claims due to coronavirus

Dollar slips ahead of expected surge in U.S. jobless claims due to coronavirus

26 Mar 2020 04:27 PM
 

The dollar fell further on Thursday ahead of key U.S. data that is expected to show a surge in unemployment benefit claims as companies lay off workers due to the rapid spread of the coronavirus.

 Investors welcomed the passage of a $2 trillion U.S. stimulus package to offset the economic impact of the COVID-19 pandemic, but there are already indications that some American states will need more money for medical supplies.

 Economists polled expect U.S. jobless claims to have risen by 1 million in the week to March 21 - an indicator of much the spread of the virus has affected the world's largest economy.

 The dollar shed 0.6% of its value against the euro to tradeat $1.0947 having earlier touched a one-week low of $1.0951. It also lost 1.1% of its value versus the safe-haven Japanese yen and was last exchanging hands for 109.99 yen.