(RTTNews) - The euro continued a run of choppy trading versus other major currencies on Thursday amid the release of another round of troubling economic data from the US.

Traders also considered a surprise interest rate cut from the Swiss National Bank, which cut its key interest rate in half to 1 percent, This is the second reduction in key interest rate in November.

Other central banks are expected to follow suit with steep rate cuts before the end of the year, as global economic conditions are likely to deteriorate further.

The euro was steady versus the US dollar on Thursday, staying near 1.25 after losing a bit of ground overnight. Three weeks ago, the euro slipped to a 2-year low of 1.2328, but has since stabilized.

Thursday morning, the Conference Board released its report on leading economic indicators in the month of October, showing that its leading indicators index fell by more than economists had been anticipating.

Meanwhile, initial claims for unemployment benefits unexpectedly increased in the week ended November 15th, according to a report released by the Department of Labor on Thursday, with the increase lifting jobless claims to a sixteen-year high.

The report showed that jobless claims rose to 542,000 from the previous week's revised figure of 515,000. With the increase, jobless claims rose to their highest level since spiking to 564,000 in July of 1992.

The euro eased versus the yen on Thursday, slipping to 118.60 as risk averse traders favored the lower-yielding Japanese currency. With the retreat, the euro moved closer to a 6-year low of 113.60, set last month.

Against the sterling, the euro improved to 0.8480, paring some of this week's modest losses. The euro also firmed up versus the Swiss franc, rising to 1.5300 before leveling off.

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