The greenback slumped against the majors on the heels of softer US economic data, ahead of Friday¡¯s key jobs report. Weekly jobless claims crept above the 400k-level to 407k, jumping from 366k a week earlier. Although the services ISM figure for March edged out consensus forecasts to 49.6 and improving from 49.3, it still remains beneath the 50-level that distinguishes expansion from contraction.
Traders will turn their attention to March non-farm payrolls, estimated to post a loss of 60k jobs, and compared with 65k lost in February. The March unemployment rate is also seen deteriorating, climbing to 5.0% versus 4.8% a month earlier.
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