Dollar hikes as joless claims drop offset concerns

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Choppy trading dominated the world's major currencies this morning, after jobless claims eased down cheerfuly while on the other hand the country's trade balace extended deficit well below forecasts, which helped overshadow rising concerns the economy is losing momentum and fears that Europe's debt crisis is deepening.

The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose on daily basis to trade at 74.65, compared with the opening level at 74.56, while recording a high of 75.06 and a low of 74.33.

Gold dropped to currently trade at $1757.86 since opening at $1808.01 an ounce, while crude oil prices surged to trade at $83.45, compared with the opening level at $81.36 a barrel.

The Euro inclined against the Dollar, where the EUR-USD pair is trading at $1.4266, while recording a high of $1.4294 and a low of $1.4103. The pair is now trading among the major support at 1.4250 and the major resistance at 1.4300.

The British Pound advanced against the U.S. Dollar, where the GBP-USD pair is now trading at $1.6201, while the pair recorded a high of $1.6234 and a low of $1.6111. The pair is now trading among key support at 1.6190 and key resistance at 1.6225.

Last yet not least, the U.S. Dollar dropped against the Japanese Yen, where the USD-JPY pair is now trading at ¥76.78, while recording a high of ¥77.22 and a low of ¥76.31. The pair is now trading between the support at ¥76.45 and the resistance at ¥78.45.

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