The U.S. dollar was weak against most major currencies on Thursday, amid rising speculation the Federal Reserve will cut interest rates sometime in the near futures to help offset the possible impact of the coronavirus outbreak on the economy.
Weak jobless claims and durable goods orders data too weighed on the dollar.
The dollar index dropped to a low of 98.36 around late morning, and after recovering to around 98.65 a little past noon, retreated again and was last seen at 98.44, down nearly 0.6% from previous close.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.