In the News1 min read
Dollar Rises After Jobless Claims; Yen Recovers
The post Dollar Rises After Jobless Claims; Yen Recovers appeared first on Monex USA.
- “This reinforces that focus needs to be on inflation rather than labor market, which supports a H2 cut,” said Andrew Hazlett, a foreign-exchange trader at Monex USA.
- Safe-haven flows and month-end flows were also supporting the greenback as risk assets were selling off and oil prices rose
- “While month-end rebalancing may provide some relief for the SUD, we continue to stay cautious in a context of mixed signals for the dollar,” strategists at the Bank of America wrote Thursday
- BBDXY risk reversals across the one-week, one-month, and one-year tenors are all trading within a whisker of zero, a configuration so rare it has occurred on only 11 prior trading days in the past five years