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Dollar Dips as Investors Brace For Surge in Jobless Claims


Thursday, 26 March 2020 07:59 WIB

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The dollar fell against the yen on Thursday before data expected to show a surge in U.S. claims for unemployment benefits as companies lay off workers due to the rapid spread of the coronavirus.

The pound extended declines against the euro and the dollar due to lingering worries that Britain is not adequately prepared to deal with an increase in coronavirus cases after the flu-like illness ravaged health care systems in Italy and Spain.

The Australian and New Zealand dollars, both of which are closely liked to the global commodity trade, fell against their U.S. counterpart as traders avoided taking on excessive risk.

Investors anxiously await the passage of a $2 trillion U.S. stimulus package to offset the economic impact of the coronavirus pandemic, but there are already indications that some U.S. states will need more money for medical supplies as the health care system struggles to cope.

The dollar fell 0.2% to 110.98 yen in Asia on Thursday.

Against the Swiss franc , the dollar was little changed at 0.9652.

Sterling fell 0.43% to $1.1831 and fell 0.5% to 92.08 pence per euro

The Australian dollar fell 1% to $0.5905, while the New Zealand dollar declined by 0.79% to $0.5805.

Source : Reuters


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