On Thursday, the dollar hovered near its lowest level in over a year against the euro and pound, driven by a dovish stance from the Federal Reserve and new indications of weakness in the U.S. job market, which bolstered the case for interest rate cuts.
The dollar also fell below the key 145 yen level as U.S. Treasury yields declined. This movement occurred ahead of the release of weekly jobless claims data later in the day and the highly anticipated speech by Fed Chair Jerome Powell at the Jackson Hole symposium on Friday.
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