The U.S. dollar weakened against its peers on Thursday as the currency's safe haven appeal dimmed amid rising hopes the Joe Biden administration will step up stimulus to bolster growth.
The monetary policy stance of the Bank of Japan and the European Central Bank played a role as well in wiping some shine off the greenback.
The U.S. Labor Department said initial jobless claims fell to 900,000 in the week ended January 16th, a decrease of 26,000 from the previous week's revised level of 926,000. Economists had expected jobless claims to drop to 910,000 from the 965,000 originally reported for the previous week.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.