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FOREX-Dollar gains for 2nd day, shrugs off record U.S. jobless claims

    * Dollar up vs euro, Japanese yen
    * U.S. jobless claims surge to record
    * Norwegian crown up nearly 2% amid better dollar liquidity
    * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

 (Adds new comment, updates prices)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, April 2 (Reuters) - The dollar rose for a second straight day against a basket of currencies
on Thursday as investors, worried about the prospect of a global recession, continued to take shelter in
the greenback.
    "With the increase in the coronavirus impact around the world, investors are looking at the dollar as
a safe haven," said Chris Gaffney, president of World Markets, TIAA Bank in St. Louis, Missouri.
    U.S. jobless claims in the latest week soared to a record level, yet the dollar's reaction was tepid
at most.
    Data showed initial claims for unemployment benefits rose to 6.65 million in the latest week from an
unrevised 3.3 million the previous week. The figures far exceeded the median estimate of 3.50 million in a
Reuters survey of economists.
    "The order of magnitude of this data is so colossal compared to expectations that there's really no
datum to work out what the story is," said Richard Benson, co-chief investment officer at Millennium
Global Investments in London.
    "It's just very, very bad. So I am not sure the market is going to trade on data surprises from that
mix."
    Markets have been alarmed since U.S. President Donald Trump's warning on Tuesday of a painful two
weeks ahead in fighting the coronavirus, even with strict social distancing measures.
    The United States has over 200,000 confirmed COVID-19 cases - the most worldwide - which has sent
investors flocking to safe-haven assets.
    Some analysts do not expect the dollar to extend its recent  rally after the Federal Reserve took a
series of measures, which have begun to have an impact, to ensure an adequate global supply of the
currency.
    The cost of raising U.S. dollar funds in the yen and euro swaps market stabilized on Thursday, with
premiums favoring the other currencies, suggesting that greenback demand had receded from earlier in the
coronavirus pandemic.
    In early afternoon trading, the dollar index was up 0.8% at 100.35.
    Against the yen, the dollar rose 0.7% at 107.91 yen.
    The euro extended its decline, falling 1.2% to $1.0828, after hitting a one-week low. 
    The Fed's efforts to improve dollar liquidity have boosted other currencies such as the Norwegian
crown, which advanced further on Thursday to a three-week high of 11.1820 against the euro. It was last
trading up 2% at 11.24.
    To combat the economic slowdown from the pandemic, the Fed said on Wednesday it was temporarily easing
its leverage rules for large banks by exempting certain investments from a key leverage calculation.

    
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    Currency bid prices at 1:59PM (1759 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.0827        $1.0962     -1.23%         -3.42%      +1.0968     +1.0827
 Dollar/Yen       JPY=        107.9100       107.1500    +0.71%         -0.87%      +108.0900   +107.0300
 Euro/Yen         EURJPY=     116.85         117.48      -0.54%         -4.18%      +117.7200   +116.3600
 Dollar/Swiss     CHF=        0.9743         0.9654      +0.92%         +0.67%      +0.9746     +0.9651
 Sterling/Dollar  GBP=        1.2365         1.2376      -0.09%         -6.74%      +1.2474     +1.2351
 Dollar/Canadian  CAD=        1.4193         1.4188      +0.04%         +9.29%      +1.4298     +1.4081
 Australian/Doll  AUD=        0.6035         0.6070      -0.58%         -14.02%     +0.6119     +0.6008
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0552         1.0582      -0.28%         -2.76%      +1.0594     +1.0547
 Euro/Sterling    EURGBP=     0.8756         0.8858      -1.15%         +3.57%      +0.8861     +0.8757
 NZ               NZD=        0.5900         0.5905      -0.08%         -12.41%     +0.5973     +0.5882
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        10.4217        10.4310     -0.09%         +18.72%     +10.4866    +10.2252
 Euro/Norway      EURNOK=     11.2950        11.4640     -1.47%         +14.81%     +11.4785    +11.1648
 Dollar/Sweden    SEK=        10.1430        9.9826      -0.23%         +8.51%      +10.1569    +9.9849
 Euro/Sweden      EURSEK=     10.9836        11.0085     -0.23%         +4.91%      +11.0163    +10.9102
 
 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Olga Cotaga in London; Editing by
Alistair Bell and Richard Chang)
  
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