The dollar dropped further against the euro and yen as worse-than-expected reports today raised concern on the nation¡¯s economic growth outlook.
US weekly jobless claims fell slightly from 337k to 331k, worse than the estimate of 320k. Durable goods orders unexpectedly dropped 1.7% in September, far below the forecast of a 1.5% rise. New home sales slid from 795k to 770k in September, raising concern on the housing slump.
The euro approached a record high hit recently at 1.4344 versus the dollar, and the yen strengthened to as low as 113.79 against the dollar. The dollar is under pressure as the Fed is widely expected to lower rates again next week.
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