The greenback climbed higher against the majors amid weaker US data and a pullback in commodities prices. The major stock indexes drifted lower, with the Nasdaq and S&P 500 sliding by over 1% and the Dow Jones drifting lower by 0.5%.
Weekly jobless claims improved from the previous week, declining to 530k from 545k. However, August home sales eased up, slipping 5.1 million units from 5.3 million units a month prior.
The pound sold off sharply in the Thursday session as government jawboning hammered the currency against the euro and the dollar.
The sterling plunged to its lowest level in 6-months at 91.55 and a 2-month low against the dollar at 1.6020.
The catalyst for the sharp sell-off was comments from Bank of England that suggested a weaker currency would be beneficial to stabilizing the economy. UK Prime Minister Gordon Brown echoed a similar tone, saying “all factors that make for a stable economy” are welcome.
Euro Slumps against USD
The euro tumbled lower to the 1.4620 mark versus the dollar amid a general slump in commodities and equities in the Thursday session.
Germany’s September Ifo sentiment survey missed consensus estimates, improving to 91.3 instead of forecasts for an increase to 92.0 from 91.3.
The Ifo expectations component improved to 95.7 from 95.0 in August, albeit less than the expected improvement to 96.5 and the current conditions index improved to 87.0 from 86.1.
Mots clés Technorati : American Economy,Currencies,Euro,GBP,USD,Employment,fvtaiwan
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