Despite remaining strong against the pound, the dollar weakened against most currencies yesterday on expectations that the US economy will recover at a slower pace than most other countries.
This is due to rising infection rates. Cases in the US reached 4 million on Thursday, with over 2,600 new cases every hour on average.
Jobless claims data released yesterday showed that the number of Americans filling for unemployment benefits increased 1.42 million in the week ending July 18th.
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