Western Union notes:
The dollar added to its session gains following mixed but generally positive U.S. data. Consumers made a comeback in May with spending up a robust 1.2 percent, a whisker better than expected. The spending spree will spell relief and hope that the economy's first quarter downturn may prove temporary. It also keeps the Fed on course to boost rates.
Weekly jobless claims rose a few more thousand than expected to 279,000, a still historically healthy level that marked 14 times in as many weeks under 300,000.
The dollar has struggled to sustain data-driven gains. If it does so again today it would demonstrate how markets have largely priced in higher U.S. rates which would result in diminished support for the buck.
