Investing.com – The U.S dollar continued a week-long decline into Tuesday morning as investors await jobless claims data due later in the day.
Forecasts complied by investing.com predict a million claims as the number of COVID-19 cases continues to rise.
“It could be difficult for the markets to digest weekly jobless claims. Bad numbers are expected and priced in to a certain extent, but there are people who think things will get even worse,” Tohru Sasaki, JP Morgan Securities’ head of Japan markets research, told CNBC.
On a more positive note for the greenback, he added “In the end this may support the dollar as investors choose to bring their money home.”
Even the news that the U.S. Senate passed a $2 trillion relief package failed to give the dollar a boost.
The , which tracks the greenback against a basket of other currencies, slid 0.19% to 100.810 by 11:40 PM ET (03:40 AM GMT).
The pair fell 0.77% to 0.5912 and the pair lost 0.33% to 0.5828 as investors continued to avoid excessive risk. The Antipodean pair’s close links to the global commodity trade led investors to liquidate their positions into U.S. dollar deposits earlier in the month.
The pair was down 0.49% to 110.64 and the pair lost 0.02% to 7.1088.
The pair slid % to 1.1615, with the number of cases exceeding 8,000 as of March 25. Concerns are rising that the U.K. is inadequately prepared for the spike in cases, despite Prime Minister Boris Johnson’s stricter new regulations released earlier this week.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.