Dollar on the backfoot again as economic clouds gather

Aran News Saudi Arabia22 Aug, 2020News

A larger-than-expected rise in weekly US jobless claims came just one day after Fed officials warned that a recovery in hiring is starting to slow, raising doubts about how quickly the world�s largest economy will bounce back from the coronavirus. Concern about the US economy, combined with an excess supply of dollars already in circulation due to the Fed�s massive quantitative easing, are likely to weigh on the US currency in coming weeks, analysts say.