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Dollar rises as US labour costs rise above consensus- EUR/USD hits a session low

US initial jobless claims and Unit Labour costs have both beaten forecasts. Claims are lower at 208k, versus an expected 211k number. However, it the Q1 Unit Labour costs that have stood out the most. The markets expected those to rise by 4%. They have actually risen by 4.7%. That data has sent bonds lower and corresponding US yields higher. This in turn has push gold below $2,300 again and the dollar has risen. The USD/JPY is rising towards 155 again and the EUR/USD has just hit a session low at 1.0694

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