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US jobless claims rise to 224k- GBP/USD and EUR/USD hit session highs
The latest weekly jobless claims data have now been released and it was a little worse than forecast., but only by 10k or so. Claims rose to 224k in the latest reporting week. However, continuing claims fell to 1.871 million from an expected number of 1.905 million. So, on balance rather mixed data there. Nevertheless, the dollar has weakened and the EUR/USD has pushed above that 1.0550 mark (probably tripped stops through there) and the GBP/USD is very close to 1.2750. That is where it stalled last week, if you remember. Perhaps a rise above 1.2750 might extend. We shall see on that, but the negative dollar reaction to the data does seen a little misplaced, given the fall in continuing claims. The GBP/USD is currently trading at 1.2743
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