Ella 
The U.S. dollar fell across the board and the euro/dollar rose on Thursday, finding room for upside this week, after a rise in U.S. jobless claims sparked renewed expectations of an interest rate cut by the Federal Reserve.
In the week ending May 3, the number of people filing for unemployment benefits in the United States reached 231,000, the highest number of people filing for unemployment benefits in a single week since August last year. With signs of possible weakness in the U.S. job market, markets chasing U.S. Treasury yields have turned to risk appetite.
The CME FedWatch tool shows that at the current level of interest rate cuts, interest rate markets are pricing in a near 70% chance that the Fed will announce a rate cut of at least 25 basis points at the September interest rate resolution. Interest rate traders also see a 67% chance of a second rate cut by the Fed before the end of 2024.
