NEW YORK—The beleaguered dollar extended its broad decline after U.S. economic data pointed to a dismal employment picture and slowing growth, bearing out the Federal Reserve's reluctance to tighten monetary policy anytime soon.
The U.S. Dollar Index was lower for the day, but off the depths it reached overnight.
U.S. jobless claims unexpectedly jumped last week and the government reported the pace of economic growth in the country slowed sharply in the fourth quarter, further adding to the negative dollar sentiment permeating the market.
"There's no fundamental justification to be long dollar right now," said Paresh Upadhyaya, director of G10 FX Strategy at Bank of America-Merrill Lynch in New York.
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