On Thursday after a narrower-than-expected U.S. trade deficit for October and better continuing jobless claims, the dollar fell versus euro and reduced its gains against the yen . This has pared the safe-haven demand for the greenback.
Major Currencies
Before the data’s release the euro rose from $1.4725 to $1.4748 EUR=, raised up 0.2% on the day. The dollar dropped down against the yen from 88.30 yen JPY= to 88.14 yen before the data, although it was still up for the day.
Reduction in U.S. trade deficit
It has been elaborated by the data that the U.S. trade deficit has reduced from a revised $35.65 billion in September to $32.94 billion in October. For the month a trade deficit of $36.8 billion has been anticipated by the economists.
Drop in the jobless claims
It has been reported by the U.S. Labor department that continuing jobless claims has dropped down to 5.157 million in the latest week from a revised 5.46 million in the prior week.
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