The dollar index (DXY00) rose by +0.27% on Thursday. The dollar rallied on Thursday as better-than-expected US economic reports signaled economic strength and lifted T-note yields. Weekly jobless claims unexpectedly fell to a 10-week low, Jun retail sales rose as expected, and the Jul Philadelphia Fed business outlook survey jumped to a 4.5-year high. Also, Thursday's stock weakness boosted liquidity demand for the dollar. The dollar rose to its high on Thursday amid hawkish comments from Kansas City Fed President Jeff Schmid and Dallas Fed President Lorie Logan, who said they favored tighter Fed policy to bring down inflation.
US weekly initial unemployment claims unexpectedly fell -8,000 to a 10-week low of 208,000, showing a stronger labor market than expectations of an increase to 217,000.