The dollar it fell widespread Thursday after an unprecedented surge in claims for unemployment benefits led investors to anticipate that the US government and the Federal Reserve will take further steps to stimulate the economy. Read Covid-19 Infections in Businesses: Full Salary Disability
The number of Americans you asked for unemployment benefits got on a record of over 3 million last week, as the stringent measures to contain the pandemic of coronavirus They slowed economic activity, causing a wave of layoffs that would have ended the longest-running job boom in United States history.
The offices of the employment department have closed access for excess of people who apply for unemployment benefits. Photo: Associated Press
“The number has caused chills in the markets. If these numbers continue for three to four weeks, there will be calls for more fiscal support and more monetary support from the Federal Reserve,” said Quincy Krosby, chief market strategist at Prudential Financial in Newark , New Jersey.
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The unemployment explosion It was announced shortly after Federal Reserve Chairman Jerome Powell said the United States “may well be in recession,” but that confidence would return once the virus is under control.
Wednesday night, the United States Senate unanimously approved a $ 2 trillion stimulus package destined to helping unemployed citizens and to industries affected by the coronavirus outbreak, as well as providing billions of dollars for the purchase of urgently needed medical equipment.
The euro jumped 1.42% against the dollar at 1.1034. Meanwhile, the US currency weakened 1.57% against the Japanese yen at 109.44 yen.
The British pound rose 2.43% to $ 1.2174.
The Federal Reserve launched new bond purchase programs last week in a bid to ease market difficulties. It also pledged to exchange dollars for foreign currencies with other major central banks after the greenback rose to three-year highs against the euro and a 35-year peak against the pound sterling.
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