IT was not until the later part of the week when the US dollar suffered a major selldown as the US dollar index plunged 1.8% to trade below 97.0.
The dollar fell into a deeper hole in response to another batch of forecast missing US data. Weekly jobless claims increased to 294,000 from 282,000, missing forecasts of 280,000 and US monthly budget statement released during the week showed that the US government recorded a monthly deficit of US$52.9bil in March, above the expectations of US$43.9bil, with both receipts and outlays increased 8.5% and 13.6% respectively.