Euro, pound jump against dollar

Thursday, 19. May 2022 21:27

The United States dollar dropped compared to several of its global counterparts on Thursday after economic concerns continued to affect the US bond and stock markets. Besides well-known inflation-related issues, the US economy and its labor market have seen another troubling signal earlier in the day, as the latest jobless claims report disappointed market expectations.

The euro advanced 1.21% against the dollar, going for 1.05902 at 3:26 pm ET, while the American currency lost 0.39% compared to the Japanese yen, changing hands for 127.729 at the same time. The British pound increased by 1.22% against the greenback, trading at 1.24908 at 3:27 pm ET.

In addition, the dollar index, which measures the dollar's performance against six other major global currencies, fell to a two-week low of 102.6566 earlier in the day.

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Author:
Baha Breaking News (BBN) / MS