The U.S. dollar experienced a decline as initial jobless claims saw an increase. This had an impact on major currency pairs including EUR/USD, GBP/USD, USD/CAD, and USD/JPY.
The rise in initial jobless claims led to a pullback in the U.S. dollar. This affected its exchange rate with other major currencies. Traders closely watched the developments in the job market as it directly impacted the strength of the dollar.
In terms of the EUR/USD pair, the euro saw some gains against the U.S. dollar as a result of the jobless claims data. Similarly, the British pound also strengthened against the dollar in the GBP/USD pair.
On the other hand, the Canadian dollar and the Japanese yen both saw some weakness against the U.S. dollar. The USD/CAD and USD/JPY pairs reflected this shift in the currency market.
Overall, the movement in the U.S. dollar was influenced by the rise in initial jobless claims. Traders will continue to monitor economic data and market trends to determine the future direction of these major currency pairs.