The US dollar found some modest bids after initial jobless claims edged lower. The reading of 227K was slightly below the 230K consensus and 229K last week.
There has been no sign of weakening in the US jobs market in the weekly data and that's likely to firm the Fed's resolve to wait before cutting rates.
The US dollar rose afterwards, climbing around a dozen pips against the yen, with the euro falling by a similar margin.
The bond market was another likely culprit. US 30-year yields tested the 2023 high of 5.17% just ahead of the data and reached 5.16% before pulling back a couple basis points. That may have eased some angst about runaway borrowing costs.
If the 2023 high breaks, US long-term borrowing costs will be the highest since 2007 and that will be a tough blow for the housing market in particular.
This article was written by Adam Button at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( US dollar firms after initial jobless claims, 30-year yields can't crack 2023 high )
Also on site :
- Which Tiny “Purse” Dog Breed Are You, Based on Your Zodiac Sign
- 'Talladega Nights' Actor, 59, Debuts Shocking New Look at Cannes
- Australia-India Financing Venture Southern Sitara Bows at Cannes Market With Cross-Cultural Slate (EXCLUSIVE)