KONTAN.CO.ID - TOKYO. The dollar was on the defensive against most currencies on Friday after a rise in U.S. jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback. The yuan jumped to a seven-month high against the dollar, showing that even U.S.-Sino diplomatic tension was not enough to deter traders who are bullish on China's economic outlook. The euro, which has been the biggest beneficiary of a recent decline in the dollar, will come into focus later on Friday as traders brace for euro zone manufacturing data.
A larger-than-expected rise in weekly U.S. jobless claims came just one day after Fed officials warned that a recovery in hiring is starting to slow, raising doubts about how quickly the world's largest economy will bounce back from the coronavirus. Baca Juga: U.S., China differ over plans for Phase 1 trade deal talks Concern about the U.S. economy, combined with an excess supply of dollars already in circulation due to the Fed's massive quantitative easing, are likely to weigh on the U.S. currency in coming weeks, analysts say.