FXstreet.com (Barcelona) - Dollar and Yen have risen higher against its major rivals, with Euro and Pound dropping to week lows after the release of US Jobless claims, which, remain at relatively high levels, and have accentuated risk aversion, already present during most of the European session. EUR/USD reversal from session high at 1.2680 on early European session, has extended lower as the pair dropped about 40 pips after the release of claims figures to session low at 1.2544. GBP/USD decline from 1.4920 session high has extended 60 pips lower after US jobless claims figures, with the Pound thrashing 1.4715 support level to hit session low at 1.4685. USD/JPY dropped from 92.90 area to 92.60 after Claims figures, although the pair returned to 92.90 shortly afterwards. US Initial jobless claims have declined by 4K to 444K during the week of May 8, from revised 448K claims on the previous week, which shows that US economic recovery has not yet reached the point of stimulating steady employment creation.

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