Initial Jobless Claims Fell to 377k - 7.6.2012

Initial Jobless Claims fell to 377,000 in the U.S. last week, 4,000 lower than the average forecast and 12,000 lower than the revised number of claimes registered two weeks ago of 389,000, the U.S Labor Department reported. Over the last 2 months the Jobless Claims have been moving in a range between the top of 390,000 and the bottom of 360,000 without clear direction or indication of Labor Market improvement. The most recent modest recovery is cooling concerns of the two-weeks-ago increase, the US dollar climbed to 79.70 against the Japanese Yen from 79.32.