US: Challenger Job Cuts drop to 34,531 in February from 79,552 in January

• US Challenger Job Cuts fell sharply in February.
• US Dollar Index clings to gains above 91.10 after the data.

Planned job cuts in the US-based employers dropped to 34,531 in February from 79,552 in January, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

"Last month’s total is 39% lower than the 56,660 cuts announced in the same month last year," the publication further read. "Through February, employers have announced 114,083 job cuts, 8% lower than the 124,395 announced through the first two months of 2020."

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.25% on a daily basis at 91.18.