THE US dollar attempted to embark on a new winning streak after its previous one was halted on Wednesday as investors cashed out some gains. The greenback found a tail wind in May as the markets was rethinking future course for Federal Reserve policy as hawkish squawk from several Fed officials have been keeping hopes flickering for a rate hike in the months ahead.
The jobless claims for the week of May 7 spiked unexpectedly to 294,000 – the highest level since week of February 28, 2015 – along with higher crude oil prices drove US dollar bulls to be on cautious side of the coin. Nearly all of the weekly increase in initial claims was driven by New York State, where claims rose 23,000 week-on-week in seasonally adjusted terms.
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