FX Snaps out of Range, USD Breaks Higher by Korman Tam
he dollar advanced sharply across the boarding, rallying to 1.4306 against the euro, 1.6082 versus the sterling and 90.34 against the yen. The greenback benefited from continued risk aversion in the global equity bourses as markets digest the prospects for interest rate hikes from the central banks. The Dow Jones, S&P 500 and Nasdaq were all lower by around 1% in the Thursday session.
Weekly jobless claims were higher than estimated at 480k up from 474k a week earlier. The November leading indicators index edged out consensus forecasts, rising to 0.9% versus 0.3% from October. The Philadelphia Fed business survey improved sharply, beating calls for a decline to 16.0, instead jumping to 20.4 from 16.7 in November.