FX round-up: Euro edges higher as markets find their footing
The single currency continued to advance on Thursday despite a strong reading on the US labour market.
Initial weekly unemployment claims Stateside slipped by 1,000 in the week ending on 9 May to reach 264,000, according to the Department of Labour.
That compared with Barclays’s forecast for a print of 270,000.
The four week moving average fell by 7,750 to hit 271,750, its lowest level since 22 April, 2000.
Euro/dollar rose by 0.41% to end the day at 1.1402.
That led Capital Economics's chief US economist Paul Ashworth to write to clients saying: "A ridiculously low 264,000 last week should reassure those worried about the strength of the US recovery. While retail sales and non-farm payrolls are both coincident indicators, this is a genuine leading indicator."
To take note of as well, delivering a lecture at the International Monetary Fund in Washington, ECB president Mario Draghi said the central bank’s programme of quantitative easing (QE), or PSPP, will be carried out in full, as announced.
It will remain in place until there is a sustained adjustment in the path of inflation inside the Eurozone, Draghi added.
Lastly, back in the UK Bank of England Governor Mark Carney told BBC’s Radio 4 Today programme: "The government has made it clear that it is a priority. I am sure the government will act with appropriate speed in developing the negotiations ... as soon as necessary.”
Cable advanced 0.19% to 1.5774.
Dollar/yen finished the session essentially unchanged at 119.19.