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Session Recap: USD on fire with the USD/JPY wrecking the 100.00

FXstreet.com (San Francisco) - The US dollar traded higher on Thursday as the Greenback was fueled by a strong upward momentum on the back of the rising US yields, employment figures weekly basis continue to improve, and finally, jawboning from FED members over the end of QE for this year.

The USD/JPY finally broke fiercely above the 100.00 with, the EUR/USD declined to tests the 1.3005 level, the GBP/USD fell to 1.5435 and the USD/CHF rocketed to reach the 0.9500 area.

The AUD/USD’s movement was significant as the pair collapsed to 11-month lows at 1.0045 on the back of the Australian employment figures improved strong in April.

Main Headlines in the American session:

US: Initial Jobless Claims fell to 323K

Commodities Brief – Precious metals shed European gains, silver falls below 24.00 barrier

Cameron criticizes EU's financial transaction tax

NIESR UK GDP estimates 0.8%

Forex: USD/JPY destroys the 100.00 milestone

Forex: AUD/USD breaches 1.0100

Tapering rumors intensifying

Forex: AUD/USD, is it really happening? 11-month range kaput

The Aussie succumbed against today's ferocious US Dollar strength, which saw the exchange rate, rather surprisingly, take out the 1.0150 support only to dive an additional 1 cent to find its lowest at 1.0046, a the lowest level the pair has been since June 28 2012. The breach of support also represents a solid break of a 9-month daily range.
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Forex: US Dollar Index forming possible 'bull flag' pattern on weekly chart

The US Dollar Index finished the day sharply higher, closing up 0.96% at 82.75. Economic data was fairly quiet but US Jobless Claims did beat expectations, coming in at 323k vs. 335k forecast. The real catalyst behind the powerful move in the greenback seemed from the USD/JPY, which finally took out the key 100.00 level and closed at 100.60.
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