* Euro retreats from nearly 2-year high; still up on the day * Yuan recovers to trade around 7 per dollar * U.S. jobless claims rise, add to dollar bearishness * U.S. coronavirus cases surge again * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E (Recasts, adds new comment, FX table, U.S. data, updates prices, changes byline, dateline; previous LONDON) By Gertrude Chavez-Dreyfuss NEW YORK, July 23 (Reuters) – The dollar dropped to a more than four-month low on Thursday, as investors continued to sell the buck on expectations the U.S. economy will likely underperform its peers in the developed world with the surge in new coronavirus cases. By contrast, the euro held gains after hitting a nearly two-year high above $1.16 on Wednesday. A rise in U.S. jobless claims in the latest week, the first time in four months, also added to the dollar’s woes, as a persistent increase in COVID-19 cases has derailed the labor market and dampened consumer demand. “There has been a turn in dollar sentiment,” said Marc Chandler, chief market strategist, at Bannockburn Forex in New York. “Two months ago, my dollar bearishness was not a consensus view. I think now it has become pretty much… Read full this story
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