U.S. Dollar Extends Rally against Euro, Yen after Weekly Unemployed Claims
The U.S. dollar resumed early rally against the yen and the euro in New York morning contracts on Thursday, as primary unemployed claims in the U.S. saw a surprising drop in the week ended December 13th.
According to a report published by the Labor Department, the unemployed claims slipped to 289,000, a decrease of 6,000 from the earlier week’s modified level of 295,000.
The fall came as a surprise to economists, who had estimated unemployed claims to crawl up to 295,000 from the 294,000 initially reported for the earlier week.
The greenback increased to a 10-day high of 1.2265 against the euro and a 1-week high of 119.23 against the yen, up from Wednesday’s ending values of 118.60 and 1.2340, respectively. The subsequently potential resistance for the greenback may be established around 1.21 against the euro and 120.00 against the yen.