The dollar index recovered to flat from an earlier three-week low led by risk-on flows hurting the haven dollar, after U.S. jobless claims unexpectedly fell, outweighing comparisons between slightly above forecast composite euro zone and UK flash PMIs versus a below forecast U.S. composite PMI reading. Flash PMIs, which today included further weakening in Japan's recessionary readings, tend to get less weight from markets than so-called hard data, such as today's historically very low initial jobless claims. In fact, prior to 2018, last week's initial claims were the lowest since 1969. And January U.S. existing homes ... (full story)