
The dollar index (DXY00) Thursday rose by +0.42% on support from higher T-note yields. Gains in the dollar accelerated after the euro tumbled when ECB President Lagarde said risks to the economic outlook are tilted to the downside.
Thursday’s US economic news was mixed for the dollar. Weekly jobless claims rose more than expected, which is a dovish factor for Fed policy, while the July Philadelphia Fed business outlook survey rose more than expected, which is a hawkish factor for Fed policy.