EUR/USD dipped to fresh 16-month lows below 1.1200 [Video]
|US labour-market data was strong and markets continued to fret over inflation pressures.
There was further speculation over a faster pace of Federal Reserve policy tightening.
The dollar maintained a strong tone with fresh 16-month highs for the index.
USD/JPY strengthened to fresh 4-year highs.
EUR/USD dipped to fresh 16-month lows below 1.1200 before recovering slightly.
Sterling was little changed with GBP/USD posting fresh 2021 lows near 1.3320 before a slight recovery.
US initial jobless claims declined sharply to a 19-month low of 199,000 in the latest week from a revised 270,000 and well below consensus forecasts of 260,000.
The Euro dipped further following the jobless claims data with fresh 16-month EUR/USD lows below the 1.1200 level as the dollar posted further net gains across the board.
Market conditions are liable to be subdued on Thursday with the US Thanksgiving Holiday and EUR/USD secured a slight recovery to near 1.1215 on Thursday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.