There was also a further element of optimism that the Euro-Zone economy is poised for at least a tentative rebound. The Euro to Dollar (EUR/USD) exchange rate recovered from initial losses to 1.0725 and posted a net gain to 1.0780. The Pound to Dollar (GBP/USD) exchange rate also moved back above the 1.1500 level, recovering from earlier lows just below 1.2450 after the Bank of England policy decision. US initial jobless claims increased to 231,000 in the latest week from a revised 209,000 the previous week. This was above substantially above consensus forecasts of 212,000 and the strongest reading for 8 months. ... (full story)