The USD/JPY extended the rebound following the release of US economic data and printed a fresh daily high at 131.65. On Asian hours, the pair bottomed at 130.39, the lowest since February 10.
Data helps DXY’s rebound
The US Dollar was attempting to stabilize and following the release of US data it gained some momentum, helping the greenback. The DXY is down by just 0.10%, near 102.50, after hitting earlier levels below 102.00.
Initial Jobless Claims dropped by 1,000 during the week of March 18 to 191,000, against expectations of an increase to 201,000. Continuing Claims dropped by 14,000 in the week ended March 11 to 1,694,000. The numbers show the labor market remains tight.
The Chicago Fed National Activity Index (CFNAI) came in at –0.19 in February, down from 0.23 in January; forecasts were for 0.
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