Forex Today: US Dollar remains firm and antipodeans fall off a cliff – by fx_ross DollarIndex Currencies AUDUSD EURUSD
strengthened yet again on Thursday for the fourth consecutive day of trade vs. a basket of currencies as per the DXY index. DXY rallied from a low of 103.84 to a high of 104.312.
As for data, the number of Americans filing new claims for unemployment benefits rose modestly last week, and the prior week's data was revised sharply lower, the Labor Department said. USin the week to 20 May came in at 229k, slightly above the previous week but lower than expected. Elsewhere, it was shown that the US economy is growing quicker than expected with real Q1 Gross Domestic Product up 1.3% QoQ.
In forex, EUR/USD was down 0.31% to 1.0715. The Japanese yen fell 0.52% versus the greenback to 140.16 per US Dollar as investors wait for Tokyo Consumer Price Index on Friday. GBP/USD fell to a low of 1.2309. AUD was under pressure as was the Kiwi ahead ofRetail Sales today with AUD/USD hitting a fresh cycle low below 0.6500.
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