Participant

Retail Sales figures released were much higher than expected with MoM Ex Auto figure expected at 0.51% released at 1% and YoY Retail Sales released at 2.7% with an expected 1.23%. Initial jobless claims also were at least in line with expectations at 279k and altogether initially gave the greenback a big boost against major currencies, pushing EURUSD and GBPUSD to 1.1180 and 1.5418 respectively. However much higher than expected continuing jobless claims had the better and markets reversed trend and started selling the US Dollar with both pairs above pre-figures levels within 5 minutes.
As Yellen has repeatedly said that the main driver for a rate hike would be higher employment and lower jobless rates this just adds to the further delay before the fed takes any action in hiking rates.

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