Dollar Extended Losses After US Jobless Claims Report

by on August 14, 2014 2:18 pm BST

The US Jobless claims climbed by 21,000 to 311,000 in the period ended Aug. 9, the highest in six weeks, a Labor Department report showed today in Washington.

The dollar extended losses after applications for unemployment benefits in the U.S. rose more than forecast last week, suggesting uneven growth continues to hold back the world’s largest economy.

The yen weakened versus most of 31 major peers as demand for havens deteriorated. The euro traded at almost this year’s low versus the dollar after Germany’s economy contracted last quarter and France’s stagnated, boosting speculation the European Central Bank will add stimulus. The pound fell to a four-month low, while South Korea’s won jumped on an interest-rate cut.