Currency comment 3/23

Thursday saw another day of sideways drift in the currency markets. Dollar slightly higher and foreign currencies slightly lower; bonds and equity indices also soft.

Initial weekly unemployment claims spiked up by 18,000 to 258,000. Claims have been climbing for the last three weeks. The retail sector of the economy has been in trouble since last year. There is increased talk the 132 year run of Sears is about to end as suppliers have stopped deliveries.

The Republican leadership in the House has postponed the vote on their bill to repeal and replace Obamacare. The vote was expected today. The effect of the postponement on financial markets is unknown at this time.