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US dollar slumps as initial jobless claims hit highest since 2021. Fed hike odds at 25%

US dollar slumps as initial jobless claims hit highest since 2021. Fed hike odds at 25%
The US dollar was slumping before the weekly initial jobless claims data but fell further afterwards as yesterday's US dollar strength unravels.Initial jobless claims rose to the highest since 2021 in a surprise spike that could be an indicator of emerging weakness in the US economy. Jobless claims are seen as one of the best leading indicators of the jobs market. That said, it's one week and recent data shows claims falling, not rising.The US dollar was volatile yesterday for no clear reason bu... Read More
Posted: Jun 8 2023, 12:42
Author Name: forexlive
Views: 081223

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