The euro dipped below $0.9770 following the release of unexpectedly strong US jobless figures, dealers said.
US claims for regular state unemployment benefits confounded the pundits by falling 11,000 to a seasonally adjusted 382,000 for the week ended June 29th from the previous week.
This is the lowest level of initial claims since March 2001 and contrasts with economists’ forecasts of a fall of 500.
The euro fell to $0.9769, its low for the day, at 1.52 p.m. before recovering to 0.9796 at 1.57 p.m.
PA
