Confidence in the U.S. currency was undermined further after U.S. President Donald Trump raised the possibility of delaying the nation's November presidential election. The dollar index fell to 92.777 (=USD), and is on course to post its biggest monthly fall in 10 years. The U.S. Labor Department data showed initial claims for unemployment benefits increased 12,000 to a seasonally adjusted 1.434 million in the week ending July 25, a sign that recovery in the employment market is stalling. That poured cold water on hopes of recovery after a devastating recession in the previous quarter. Data on Thursday showed that the U.S. economy contracted by 32.9% in the second quarter, the steepest pace since the Great Depression. The U.S. Congress was no closer to a deal extending or replacing the extra $600-per-week in payments to tens of millions thrown out of work by the coronavirus pandemic, just one day before a federal jobless benefit was set to expire. Leading the charge against the dollar was the euro, which has gained traction after European Union leaders agreed this month to a 750 billion euro economic recovery fund, taking on debt jointly in a major boost to regional cooperation.