Dollar continues slide after weak US data

The US dollar fell on Thursday, deepening its losses after weak US data that showed a severe coronavirus impact on the worlds largest economy.

Data showed today the US GDP shrank by 5% during the first quarter of this year, lower than forecasts of contraction by 4.8%. 

The durable goods orders reading fell by 17.7% in April, slightly higher than forecasts of a drop by 19%.

While the unemployment claims reached 2.123 million vs. 2.446 million, with the total unemployed in the US exceeding 40 million in just 10 weeks.

The US dollar index fell 0.6% to 98.4 points as of 18:53 GMT, after it hit a high of 99.09 and a low of 98.3.