The dollar reached the lowest level in almost three weeks versus major peers as rising U.S. jobless claims and weak housing data cast doubt on the nation’s economic outlook.
The greenback weakened after a report showed applications for unemployment benefits rose last week and sales of new homes slumped, adding to evidence U.S. economic growth remains uneven. Federal Reserve policy makers want to see signs of growth and inflation on the rise before committing to the first interest-rate increase in almost a decade.
The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was down 0.7 percent to 1,183.96 as of 2:46 p.m. New York time. It reached the lowest level on a closing basis since April 3. The dollar fell 1.1 percent to $1.0842 per euro and slid 0.3 percent to 119.51 yen.
The greenback gauge has slumped 1.4 percent in April after gaining for the past nine months.
Source : Bloomberg