The US dollar climbed broadly higher after initial jobless claims fell in the latest week. Claims at 233K were below the 240K expected and the one-year high of 250K last week.
In response to the report, EUR/USD fell to 1.0900 from 1.0930.
The drop in the pair challenges this week’s lows and I would expect further selling if 1.0890 breaks.
That said, eyes are on the bond market with yields ticking higher again today. US 2-year yields are up 6.8 bps to 4.07% in a big bounce form as low as 3.84% in the aftermath of non-farm payrolls.
Given the variability of initial jobless claims, the 30 pip jump in the dollar across the board is a big one and highlights how sensitive the market is right now to economic data.
This article was written by Adam Button at www.forexlive.com.
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