Dollar Rallies After Initial Jobless Claims Miss, Durable Goods Beat Expectations
The Department of Labor reported on Thursday that Initial Jobless Claims rose by 24K to a seasonally adjusted 329k last week. The figure missed analyst expectations of 310K. The prior week’s number was revised higher to 305K.
Chinese Yuan Sinks to 16 Month Lows vs. US Dollar
The Chinese Yuan fell to its lowest levels since December of 2012 against the US Dollar in early trading on Wednesday. The Yuan has depreciated 3 per cent versus the greenback so far this year. The People’s Bank of China (PBOC) intervened to weaken the currency in February and March in a move