‘Today’s figures came in higher than expected at 261k – the highest print in well over a year. Ryan Brandham, head of Global Capital Markets for North America at Validus Risk Management, said: Markets took the figures as an indicator the that the US labour market, a key driver in the Fed’s interest rate decisions, may be cooling. Jobless claims leaped to 261,000 on Thursday, their highest point since October 2021. USD’s losses were cushioned by a risk-off mood, though. USD’s decline came after an above-forecast rise in US jobless claims for the week ending 03 June. US Dollar (USD) Exchange Rates Tumble after Above-Forecast Jobless Claims Rise The pairing was bolstered by a greater-than-forecast rise in US jobless claims which prompted a pullback in Federal Reserve rate hike bets.Įxpectations of additional policy tightening from the Bank of England (BoE) also lifted GBP/USD.Īt time of writing the GBP/USD exchange rate was at around $1.2533, which was up roughly 0.7% from that morning’s opening figures. The Pound US Dollar (GBP/USD) exchange rate strengthened on Thursday.
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