The dollar index (DXY00) tumbled to a 6-week low on Thursday and finished down by -0.99%. The dollar retreated on Thursday’s US economic news that showed Q2 GDP growing less than expected and the Jun core PCE prices index easing as expected, dovish factors for Fed policy. The dollar was also under pressure on negative carryover from Wednesday when the FOMC kept interest rates unchanged. Losses in the dollar accelerated on Thursday after the Japanese yen surged on signs of suspected intervention in the forex market by Japanese authorities to prop up the yen.
US weekly initial unemployment claims rose +9,000 to 197,000, showing a stronger labor market than expectations of 200,000.
