Dollar’s Down Move Regains Momentum

While the US dollar has been going to new lows during the Thursday’s trading session, it looked like the downward move is running out of steam, allowing the currency to trim some of its losses. Yet currently the greenback resumed its move down.
The dollar was falling initially during the current session, and reached the lowest level since November 27 against the Great Britain pound and the weakest since February 19 versus the euro. The currency made a surge upward later, trimming its losses. Yet the rally did not last long, and the greenback resumed its decline as of now.
Today’s data from the United States was mixed. On one hand, the Producer Price Index dropped 0.4 percent in April, frustrating specialists who promised an increase. On the other, unemployment claims remained almost unchanged last week while experts predicted jobless claims to rise.
EUR/USD rose from 1.1354 to 1.1403 as of 19:40 GMT today, reaching the high of 1.1444 intraday. GBP/USD was up from 1.5744 to 1.5776 and touched the session maximum of 1.5814. USD/JPY bounced to 119.17 following the earlier drop from 119.14 to 118.89.

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