British Pound Futures Market News and Commentary
The dollar index (DXY00) on Thursday rose +0.518 (+0.52%). Jun euro-fx futures (E6M0) closed down -0.0084 (-0.77%), and EUR/USD (^EURUSD) fell -0.0117 (-1.07%). Jun yen futures (J6M0) closed down -0.59 (-0.64%), and USD/JPY (^USDJPY) rose +0.66 (+0.62%).
The dollar index on Thursday climbed to a 1-week high on weakness in EUR/USD which fell to a 1-week low as EU leaders continue to bicker about the course of action regarding stimulus to combat the coronavirus pandemic. The dollar was undercut by the surge in U.S. weekly jobless claims to a record high.
Thursday's U.S. trade data was dollar-supportive as it showed the U.S. Feb trade balance fell to a deficit of -$39.9 billion, the smallest in 3-1/4 years.
The dollar index on Thursday fell back from its best levels on weaker-than-expected U.S. economic data. Weekly initial unemployment claims surged by +3.341 million to a record 6.648 million, showing a much weaker labor market than expectations of 3.763 million.... Read more