Forex Pros – The euro fell to a 1-week low against the U.S. dollar on Thursday, after official data showed that U.S. initial jobless claims dropped last week and amid nagging fears over the euro zone sovereign debt crisis. EUR/USD hit 1.2542 during European afternoon trade, its lowest since last Thursday; the pair subsequently consolidated around 1.2555, shedding 0.47%. The pair was likely to find resistance at 1.3342, the high of March 30, and support at 1.2515, Thursday's low and a 14-month low. A Labor Department report earlier Thursday showed that the number of U.S. workers filing new claims for jobless benefits fell slightly for a fourth straight time last week. Meanwhile, the leader of Spain's largest union ruled out a general strike before meeting the prime minister to discuss public wage cuts as part of a package to cut its deficit, Reuters reported. The euro also slumped versus the yen on Thursday, with EUR/JPY dropping 0.96% to reach 116.48. Later in the day, the Chairman of the Federal Reserve, Ben Bernanke, was due to speak at an event in Philadelphia. Traders were likely to scrutinize his comments for clues to futures shifts in monetary policy.

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