USD/JPY rallies as US initial jobless claims fall

The US dollar maintained strength after extending higher yesterday on upbeat US jobless claims data. The dollar as already on the rise after the Fed signaled on Wednesday that it is on course to raise interest rates next year.

Initial jobless claims in the US fell by 6,000 to a seasonally adjusted 289, in the week ending December 13, the Labor Department said on Thursday. That was lower than economists’ expectations. The four-week moving average, which evens out volatile weekly data, decreased by 750 to 298,750. Weekly jobless claims have mostly stayed below 300,000 since mid-September, the longest such stretch since the first half of 2000.

The yen fell for a third day against the dollar as Japan’s two- and five-year yields dropped to records after the Bank of Japan maintained unprecedented stimulus.
USD/JPY rose to as high as 119.46 in early Friday trading.

The post USD/JPY rallies as US initial jobless claims fall appeared first on Forex Circles.

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