The dollar fell as lower U.S. Treasury yields, fueled by a spike in jobless claims, hinted at a potential peak in interest rates. Despite the surge in unemployment claims, actual layoffs may not be accelerating due to the Memorial Day holiday. Nevertheless, the data prompted a more than two-week low for the dollar against major currencies, suggesting a slowdown in the U.S. labor market. The dollar index stood at 103.41, registering its largest daily decline in weeks.
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Summary
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US Jobless Claims Surge, Dollar Eases; Fed in Focus
Description
The dollar fell as lower U.S. Treasury yields, fueled by a spike in jobless claims, hinted at a potential peak in interest rates.
Author
Susan Jane
Publisher Name
CNBC
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