The dollar index (DXY00) rose to a 1.5-week high today and is up by +0.12%. Today's stock selloff has boosted liquidity demand for the dollar. Also, hawkish comments from Fed Governor Lisa Cook supported the dollar when she said she now sees "risks as tilted toward higher inflation."
The dollar fell back from its best levels on signs of weakness in the US labor market after Challenger's January job cuts posted their biggest decline for a January since 2009, weekly jobless claims rose more than expected to an 8-week high, and the Dec JOLTS job openings unexpectedly fell to a 5.25-year low, dovish factors for Fed policy.
