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.

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