09:09 AM EDT, 06/20/2024 (MT Newswires) -- The US dollar maintained gains over most other major currencies in early North American trade on Thursday even after weekly unemployment claims came in higher than was expected, and the current account deficit deepened.

EUR/USD and GBP/USD remained under pressure near intraday lows around 1.0714 and 1.2677, respectively, while USD/JPY was volatile around intraday highs at 158.50 and USD/CAD fell back near session lows around 1.3706.

Initial US unemployment claims fell to 238,000 in the week to June 15, from 243,000, Department of Labor data showed. However, this was above expectations for a 235,000 increase, while continuing claims were also higher than expected, at 1.82 million.

Meanwhile, the Bureau of Economic Analysis said the US current account deficit increased to $237.6 billion in the opening quarter, from $221.8 billion previously, which was deeper than the expected $206.4 billion deficit.

The current account deficit was the largest since Q2 of 2022 and was reported alongside declines for building permits and housing starts in May. The Philadelphia Federal Reserve Manufacturing Index was also lower than expected, at 1.3.

The US dollar continued to be quoted higher against all G10 currencies except the Norwegian krone following the releases, and maintained gains over all other G20 currencies except the Mexican peso.