Euro eases from three-month high as US Dollar stabilises, Jobless Claims beat expectations
EUR/USD trims part of its earlier gains on Thursday as the US Dollar (USD) stabilises following the previous day’s sharp selloff. At the time of writing, the pair trades around 1.1686 after touching an intraday high of 1.1710, its highest level since May 14.
Euro eases from three-month high as US Dollar stabilises, Jobless Claims beat expectations. EUR/USD trimmed part of its earlier gains on Thursday, trading around 1.1686 after touching a high of 1.1710, its highest level since May 14. The US Dollar stabilised following a sharp selloff the previous day, with US Treasury yields rebounding after a steep pullback triggered by the US Treasury Department's announcement of larger liquidity-support buybacks for longer-dated government securities.
The US Dollar Index (DXY) recovered from an intraday low of 98.56, while US labour market data showed Initial Jobless Claims falling to 206K in the week ending August 15, below market expectations. The Fed is expected to keep interest rates unchanged, while the ECB is seen raising rates for the second time this year.
Brief written by urgent.news from FXStreet's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
