
The dollar index (DXY00) today is up by +0.29%. The dollar today is higher on some mild short covering after two days of losses. The dollar also garnered some support after US Q1 nonfarm productivity rose as expected. Higher T-note yields today are favorable for the dollar.
Limiting gains in the dollar was a larger-than-expected increase in weekly US jobless claims, a dovish factor for Fed policy. Also, strength in the yen weighed on the dollar as the yen rallied to a 1-3/4 month high today.