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Barchart
Rich Asplund

Dollar Moves Higher as Strong U.S. CPI Boosts Bond Yields

ECB US Federal Reserve Interest Rates Centeno Wunsch Inflation United States Japan

The dollar index (DXY00) on Thursday rose by +0.70%.  The dollar on Thursday recovered from a 2-1/2 week low and posted moderate gains after stronger-than-expected U.S. economic reports bolstered the outlook for the Fed to raise interest rates one more time this year.  Also, dovish ECB comments on Thursday undercut EUR/USD to the dollar’s benefit. 

U.S. weekly initial unemployment claims were unchanged at 209,000, showing a slightly stronger labor market than expectations of an increase to 210,000.

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