Market News
Euro, yen climb as dollar rally takes a breather - REUTERS
- Euro and yen strengthen as dollar pauses after rally
- Fed and ECB rate cut expectations diverge
- U.S. jobless claims fall, supporting slower Fed rate cuts
- ECB policymakers suggest gradual rate cuts amid inflation concerns
- BOJ Governor Ueda links yen fall to U.S. economic optimism
NEW YORK, Oct 24 (Reuters) - The euro and Japanese yen strengthened on Thursday as the U.S. dollar paused after rallying to a nearly three-month high, with the greenback only briefly moving off earlier lows as data supported views for slower rate cuts by the Federal Reserve.
Weekly initial jobless claims fell to 227,000, below the 242,000 estimate of economists polled by Reuters, while continuing claims rose to a nearly three-year high. The Fed is likely to discount the climb earlier in claims this month due to distortions from Hurricane Helene.
