The dollar index (DXY00) climbed to a 6-week high on Thursday and finished up by +0.26%. The dollar is moving higher today on better-than-expected US economic news. Weekly jobless claims unexpectedly fell to a 6-week low, and the Jan Empire and Jan Philadelphia Fed business outlook surveys rose more than expected. The dollar added to its gains today on hawkish comments from Atlanta Fed President Raphael Bostic and Kansas City Fed President Jeff Scmid, who said the Fed needs to keep monetary policy restrictive.
The dollar also garnered support on comments from President Trump, who told Reuters that he “has no plans” to fire Fed Chair Powell despite a Justice Department probe into the central bank’s renovation.
