BBDXY To Best Levels, Aided By Yield Differentials & Initial Jobless Claims

BBDXY has continued to firm, breaching yesterday’s high as GBP/USD looks through yesterday’s lows. There was little in the way of meaningful headline flow to drive the USD bid through early NY hours.

• Cross-market, the greenback saw favourable moves in yield differentials into the weekly U.S. jobless claims data, which provided a move favourable than expected outcome on the initial claims front and a fresh bid for the broader USD, although the continuing claims print moved higher, limiting the bid in the USD to some degree.
• Meanwhile, the latest Philly Fed m’fing survey was a touch softer than expected, printing roughly in line with last month’s reading.
• Still, it is the AUD that outperforms amongst the G10 FX sphere, aided by the firmer than expected domestic labour market report, released earlier on Thursday.