Dollar is falling after the increase in US jobless claims

The dollar fell on Friday, June 9, affected by the drop in US Treasury bond yields, after an increase in the number of weekly jobless claims in the United States raised hopes that US interest rates would reach their peak, with focus shifting to major central bank meetings to be held within days.

Thursday’s data showed the number of Americans filing new claims for unemployment benefits rose to the highest level in more than a year and a half last week, although layoffs likely did not accelerate because the data included a public holiday that may have caused some volatility.

However, that was enough for the dollar to drop to a more than two-week low against a basket of currencies in the previous session as investors took the data as a sign of a slowing US labor market.

The dollar index scored 103.41 points in the latest Asian trading today, Friday, after losing more than 0.7% in the previous session, to record the largest daily decline in weeks.

The index, which measures the performance of the US currency against a basket of six major rival currencies, recorded a weekly decline of 0.6%, heading for the worst week since mid-March.

The dollar fell to its lowest level in a week at 138.765 against the Japanese yen, affected by the drop in US Treasury yields.

The pound sterling approached its highest level in a month at $1.2564, while the New Zealand dollar fell 0.11% to $0.6089.

The Turkish lira fell more than 1% to a new record low of 23.54 against the dollar after the Turkish President appointed Hafiza Ghaya Arkan, an executive in the financial sector in the United States, as head of the Turkish Central Bank.

The euro settled in the latest trading at 1.0776 dollars, hovering around the highest level in two weeks, which it recorded yesterday, Thursday, at 1.0787 dollars. The single European currency recorded a weekly rise of 0.6% and is on its way to breaking a series of weekly losses that lasted four weeks.

The Canadian dollar was trading in the latest trading at 1.3371 against the dollar, not far from the highest level in a month recorded on Wednesday, while the Australian dollar settled near the highest level in a month at $ 0.6711.