Dollar turns slightly lower on weak data

The US dollar fell against most of its counterparts on Thursday, to pare its early gains after the release of weak economic data.

Data showed the initial US unemployment claims rose to 870,000 last week .vs the previous reading of 866,000, worse than forecasts of a drop to 845,00.

Chicago Fed President Charles Evans said that the US economic crisis is worse than it appears in the economic data.

White House Health Advisor Anthony Fauci expressed that an effective vaccine is being developed, adding that the US would have the vaccine by next November or December.

The dollar index fell against a basket of currencies by 0.1% to 94.3 points as of 19:50 GMT, after it hit a high of 94.5 and a low of 94.2.