The US dollar is down around a quarter of a percent against the euro and slightly less against the pound after a volatile day of trading.
The US labour market continues to be remarkably tight despite high interest rates and fears of a recession. There were just 209k initial jobless claims last week, when the consensus forecast had been 225k. With the labour market still going strong, currency watchers are becoming less sure the Fed will reduce interest rates sooner rather than later.
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