Dollar drops on dissappointing jobless claims

FXstreet.com (Barcelona) – The Dollar has dropped against its main rivals reaching fresh multi-week lows against the Pound after the unexpected increase of initial jobless claims figures.

GBP/USD rally from Friday’s high at 1.5405 has finally broken above 1.5780 resistance area, after the release of US claims data, reaching a fresh 4-week high at 1.5835, with December high, at 1.5910, on sight.

EUR/USD recovery from 1.2870 low on Monday has extended above 1.3200 to reach week high at 1.3250 while the USD/JPY retreat from 83.85 session high has extended below 83.00 to test week low at 82.70.

US Initial jobless claims have increased by 35K in the week of January 8, to a total volume of 445K, from the upwardly revised 410K over the previous week, against market consensus, that had called for a 8K decline to against market consensus, that had called for a 8K decline to about 402K.

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