The US dollar continued to bounce around, losing over a third of a per cent to both the pound and the euro.
The question for the US is when will a historically strong labour market start to crack? In theory, that should have already happened with higher interest rates, and forecasts predict last week’s initial jobless claims to nudge up to 210k from 202k. Yet there’s been little evidence the Fed’s tactics have cooled the jobs market, and recent predictions of weakness are overblown.
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