Forex News: U.S. Dollar Rises As Initial Jobless Claims Drop

U.S. Dollar Rises As Initial Jobless Claims Drop

(RTTNews) - The U.S. dollar advanced against its major counterparts in the New York session on Thursday, as initial jobless claims declined unexpectedly last week.

Initial jobless claims fell by 5,000 to 227,000 in the week ended July 5, below estimates of 236,000.

U.S. President Donald Trump issued a second round of tariff letters to seven countries that proposed rates ranging from 20 percent to 30 percent.

The dollar index rose 0.16 percent to 97.35.

The greenback climbed to a 2-week high of 1.1662 against the euro, from an early 2-day low of 1.1749. The currency is seen finding resistance around the 1.13 level.

The greenback advanced to 2-day highs of 1.3532 against the pound and 0.7987 against the franc, from an early low of 1.3619 and a 1-week low of 0.7919, respectively. The currency is poised to find resistance around 1.33 against the pound and 0.84 against the franc.

The greenback recovered to 146.78 against the yen, from an early 3-day low of 145.75. Against the loonie, the greenback edged up to 1.3708. The currency may find resistance around 150.00 against the yen and 1.39 against the loonie.

In contrast, the greenback fell to a 1-week low of 0.6585 against the aussie and a 2-day low of 0.6031 against the kiwi. The next possible support for the currency is seen around 0.68 against the aussie and 0.62 against the kiwi.

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