Constructive news on America's job market helped the dollar cut losses that took it to two-month lows against the euro and a currency basket. A day after the Fed said it wants to see further job market improvement before raising U.S. interest rates, weekly jobless claims printed at 262,000 - the fewest in 15 years which stretched the streak below 300,000 to eight straight weeks.
Good news too on wage growth which rose 0.7 percent in the first quarter, the most since the third quarter of 2014. Consumer spending rose 0.4 percent in March, a touch below forecast but twice the rate of February. Inflation steadied at 1.3 percent.
The constructive tone of today's data can help fasten a tourniquet on the dollar and stem its bleeding. America's jobs report fares on May 8 will determine the dollar's next steps.
