Forex News – Dollar rises after U.S. weekly jobless claims fell
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The US dollar extended gains against the yen and pared losses against the euro after data showed initial jobless claims fell in the latest week.
The dollar rose to 77.08 yen immediately after the data from around 76.95 prior to the release of the data. The euro fell to $1.3757 from $1.3776 just before the release of the data.
The U.S. Labour Department reported that initial state jobless benefit claims fell to 403,000 in the latest week. The prior week’s figure was 409,000, revised up from 404,000.
The actual data missed expectations of claims of 400,000, but the fall in unemployment claims from the preceding week’s 409,000 indicates an improvement in the US jobs market.
The claims data covered the survey week for the government’s closely watched nonfarm payrolls count for October.
First-time applications for jobless aid fell 25,000 between the September and October survey periods, suggesting a step-up in nonfarm employment after payrolls increased 103,000 last month.
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The US dollar extended gains against the yen and pared losses against the euro after data showed initial jobless claims fell in the latest week.