⁍ The euro dropped to a four-week low against the U.S. dollar on Thursday.

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⁍ The dollar also climbed to a three-week high against the Swiss franc.

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– The US economy grew at a 3.1% annual rate in the third quarter, the fastest pace since records began in 1947, according to an advance estimate released today. The Commerce Department also said the number of people filing new jobless claims fell last week to 751,000, the lowest level in more than a year, reports the Wall Street Journal. “Although the data … appears healthy, it should be taken with a grain of salt,” a market strategist at Cambridge Global Payments tells Reuters. “It’s kind of a perfect storm that’s weighing on the euro at this point.” The dollar, meanwhile, climbed to a three-week high against the Swiss franc and rallied from a five-week trough versus the yen. The euro fell 0.6% to $1.1671, while the dollar rose 0.4% to 104.67 yen. The market’s focus, however, was on the European Central Bank, as Europe grapples with the surge in COVID-19 cases that forced national lockdowns in Germany and France and a regional lockdown in Spain. The ECB, which kept interest rates steady, committed on Thursday to contain the growing fallout from a second wave of coronavirus infections, saying it would hone its response by its December meeting. “We agreed, all of us, that it was necessary to take action and therefore to recalibrate our instruments at our next Governing Council meeting,” said President Christine Lagarde.