To predict whither growth is directed,
For there's much one may plumb
When aware what the sum
Of those getting an unemployed check did.
Indeed, a higher-than-expected jobless claims number yesterday helped to drive the dollar lower against the euro, which now costs nearly $1.50. In combination with Fed Chairman Ben Bernanke's dovish comments at his first-ever press conference, the indication of higher unemployment tells the markets to expect a period of slow growth and low interest rates in the US, both of which would make other currencies more attractive.