US dollar falls after initial jobless claims hit six-week high

The euro and pound rose to the best levels of the day after an uptick in US claims for unemployment benefits. Initial jobless claims hit 224K, reversing a recent slide and touching a six-week high.

The rise could be related to post-election layoffs but may also speak to fewer temporarily jobs ahead of Christmas.

The euro touched its highest since Monday but has since given some back.

Another notable driver at the moment is a proposal from a German official for common debt issuance in order to reach NATO spending targets. That’s pushed up bund yields by 5 bps to a session high.

This article was written by Adam Button at www.forexlive.com.