The USD is moving higher in early US trading. The gains are being fueled by lower initial jobless claims (stronger employment), and sharply higher unit labor costs, and sharply lower productivity gains at the end of 2022.

The move to the upside in the USD has taken the greenback into some key technical area for the GBPUSD and the USDJPY. The EURUSD moved below a technical support target. The USDCAD has held suppor near the 100 hour MA.

Watch the video to get the details of the moves and the risk defining levels for those pairs.