US: Weekly Initial Jobless Claims jump to 261K, highest level since October 2021

• Initial Jobless Claims in the US rose by 28,000 in the week ending June 3.
• Continuing Jobless Claims decreased by 37,000 in the week ending May 27.
• US Dollar Index drops to fresh daily lows after report. 

Initial Jobless claims totaled 261,000 in the week ending June 3, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week's 233,000 and came in above market expectations of 235,000. It is the highest reading since October 2021. 

Market reaction: 

"The US Dollar Index extended its losses after the report, falling to fresh daily lows below 103.70. The EUR/USD rose towards 1.0750, and the USD/JPY dropped further below 139.50.