US DOLLAR DECLINES ON WEAK LABOR AND INFLATION DATA
- Weak labor data led to a decline in the US Dollar during Thursday session.
- Initial Jobless Claims remained at 230K, indicating a persistent labor market.
- PPI fell short of expectations, signaling a potential easing of inflation, which also added to the USD’s downside.
The US Dollar Index, which measures the value of the USD against a basket of six currencies, is posting daily losses after soft labor and inflation data.
Despite positive economic indicators, current market valuations may be overly optimistic. Recent data reveals that the US economy remains robust, expanding at a rate exceeding expectations.
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