FOREX-US dollar slips from 1 year high on weak data, consolidation

* Weekly US jobless claims rock the dollar’s luster * US GDP data confirms second quarter growth * Dollar posts biggest daily percentage loss since mid-August * Euro is on (lowest since July 2020 against the dollar is updating prices) By Gertrude Chavez-Dreyfuss NEW YORK, September 30 (Reuters) – The dollar edged down from its one-year high on Thursday in choppy trading, Slightly under pressure from an increase in weekly jobless claims in the US, with investors also consolidating gains after rising sharply in recent sessions. Overall, the greenback has been supported by the surge in US Treasury yields, as the Federal Reserve expects its monetary stimulus to wane from November even as global growth slows. Thursday’s economic data, however, took some of the dollar’s strength. The first jobless claims in the United States rose for the third week in a row to 362,000 for the period ending Sept. 25, data showed. Economists polled by Reuters predicted 335,000 jobless applicants for the past week. That said, another report confirmed that U.S. economic growth accelerated in the second quarter, at a rate of 6.7%, thanks to the government’s pandemic relief money, which boosted spending by the government. consumption. “Even if the US dollar falls a bit more in the near term, we expect it to resume its recent rally in due course,” wrote Joseph Marlow, assistant economist at Capital Economics, in a research note. “Although long-term yields have risen in most major economies, US bond yields have risen more than most and, most importantly, have been largely due to higher real yields, reflecting expectations of a tighter monetary policy. ” The dollar index, which measures the currency against a basket of six rivals, hit 94.504, its highest since September 28 last year. It was down 0.2% for the last time to 94.199. For the month, the dollar ended up 1.7%, its second consecutive monthly gain. In the third quarter, the dollar appreciated by 2%. Marc Chandler, chief market strategist at Bannockburn Forex, wrote in a research note that “a tone of consolidation is evident” after the dollar surge on Wednesday. The dollar’s recent gains came despite a political stalemate in Washington over the US debt ceiling that threatens to shut down much of government. Yields on the benchmark 10-year Treasury bond stood at 1.524%, remaining near a three-month high reached on Tuesday at 1.567%. The dollar hit 112.07 yen, the highest since February 2020. It last lost 0.5% to 111.36 yen, its biggest daily percentage decline since mid-August. For the month of September, however, the dollar posted a gain of 1.2% against the yen, and a more modest increase of 0.4% for the third quarter. The euro lost 0.1% to $ 1.1586, after hitting $ 1.1563 earlier, its lowest since July 2020. The single European currency was down 1.9% against the dollar for the month and 2.2% lower for the third quarter. The risk-sensitive Australian dollar strengthened 0.8% to US $ 0.7232, after falling 0.9% overnight, as iron ore prices rallied ahead of the holiday season. Golden Week in Australia’s main business destination, China. A slight improvement in overall risk sentiment after days of gloom was seen in cryptocurrency markets, as bitcoin rose 5.7 %% to $ 43,929 and ether rebounded from 6.2 % to $ 3,028. Both coins are down between 20% and 27% from their September peaks. =================================================== ====== Currency Bid Price at 3:20 p.m. (1920 GMT) Description RIC Last US Close Percentage Change YTD High Bid Low Bid Previous Session Dollar Index Change 94.1870 94.3440 -0.15% 4.674% +94.5040 +94.1090 Euro / Dollar $ 1.1588 $ 1.1598 -0.09% -5.16% + $ 1.1610 + $ 1.1563 Dollar / Yen 111.3700 111.9750 -0.54% + 7.79% +112.0750 +111.3200 Euro / Yen 129.04 129.82 -0.60% +1.67% +129.9500 +128.8100 Dollar / Switzerland 0.9323 0.9346 -0.22% + 5.41% +0.9368 +0.9322 Sterling / Dollar $ 1.3482 $ 1.3427 + 0.42% -1.31% + $ 1 1.3517 + $ 1 1.3417 Dollar / Canadian 1.2656 1.2753 -0.78 % -0.64% +1.2763 +1.2631 Aussie / Dollar $ 0.7235 $ 0.7174 + 0.86% -5.94% + $ 0.7257 + $ 0.7176 Euro / Switzerland 1.0803 1.0839 -0.33% -0.04% +1.0847 +1.0802 Euro / Sterling 0.8594 0.8636 -0.49% -3.84% +0.8643 +0.8578 NZ $ 0.6912 $ 0.6866 + 0.71% -3.72% + $ 0.6921 + $ 0.6860 Dollar / Dollar Dollar / Norway 8.7315 8.7860 -0.55% + 1.76% + 8.8295 +8.7140 Euro / Norway 10.11 96 10.1740 -0.53% -3.32% +10.2315 +10.1054 Dollar / Sweden 8.7513 8.8067 -0.7 2% + 6.77% +8.8118 +8.7383 Euro / Sweden 10.1406 10.2141 -0.72% + 0.64% +10.2167 +10.1320 (Report by Gertrude Chavez -Dreyfuss; Additional reporting by Ritvik Carvalho in London; Editing by William Maclean, Hugh Lawson and Jonathan Oatis)

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