The weekly report on the US unemployment claims provided temporary support for the US dollar during the Thursday’s session. The Greenback rose against the Euro by 10 base points to reach the 1.1687 mark. However, the Euro was capable of maintaining strong position until Friday’s morning to continue trading above the 1.1735 level.
The Labour Department revealed that the number of Americans filing for unemployment benefits fell to the lowest level in six months last week. The report showed the initial jobless claims dropped to 232K in the week ended August 12, down from the prior week’s 244K. Data provided a good sign for the Federal Reserve as the further tightening in the labour market could encourage the US economic growth.
