Investing.com – The U.S. dollar extended losses against the Swiss franc on Thursday, tumbling to a fresh record low, following a government report showing that U.S. initial jobless claims fell less-than-expected last week.
USD/CHF hit 0.8782 during European afternoon trade, the pair’s all-time low; the pair subsequently consolidated at 0.8793, tumbling 0.98%.
The pair was likely to find short-term support at 0.8700 and resistance at 0.9010, Wednesday’s high.
The Labor Department said the number of people filing initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 403,000, disappointing expectations for a drop to 390,000.
The prior week's figure was revised up to 416,000 from the previously reported 412,000.
A Labor Department official said three states - Pennsylvania, Virginia and Alaska -- had been estimated for last week's data, raising the possibility for large revisions next week.
Meanwhile, the Swiss franc was boosted by speculation that the Swiss National Bank may follow the European Central Bank in raising interest rates in the coming months, after the bank raised its growth forecast for the year earlier this month.
The dollar was also lower against the euro, with EUR/USD gaining 0.38% to hit 1.4577.
Later in the day, the Federal Reserve Bank of Philadelphia was to publish an index of manufacturing activity.
USD/CHF hit 0.8782 during European afternoon trade, the pair’s all-time low; the pair subsequently consolidated at 0.8793, tumbling 0.98%.
The pair was likely to find short-term support at 0.8700 and resistance at 0.9010, Wednesday’s high.
The Labor Department said the number of people filing initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 403,000, disappointing expectations for a drop to 390,000.
The prior week's figure was revised up to 416,000 from the previously reported 412,000.
A Labor Department official said three states - Pennsylvania, Virginia and Alaska -- had been estimated for last week's data, raising the possibility for large revisions next week.
Meanwhile, the Swiss franc was boosted by speculation that the Swiss National Bank may follow the European Central Bank in raising interest rates in the coming months, after the bank raised its growth forecast for the year earlier this month.
The dollar was also lower against the euro, with EUR/USD gaining 0.38% to hit 1.4577.
Later in the day, the Federal Reserve Bank of Philadelphia was to publish an index of manufacturing activity.