Article by ForexTime
The dollar was broadly weaker following data that showed the number of Americans filing initial claims for unemployment benefits jumped more than expected in the week ended August 9.
According to the US Labor Department on Thursday, initial jobless claims rose 21,000 to a seasonally adjusted 311,000 last week, above economists’ expectations for a rise to only 295,000.
The dollar edged down against a basket of currencies after the data, and against the yen it fell to a low of 102.30 yen to retrace all gains made earlier in the day when it peaked at 102.65 yen.
The number of claims hit a six-week high and represents a departure from a run of low readings that showed employers had been holding firm on staffing levels in order to keep up with demand. It is hoped that today’s figures will not alter the view that the job market is improving, especially due to recent solid job gains based on data.
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