The dollar index (DXY00) Thursday fell by -0.14%. The dollar gave up early gains Thursday and turned lower after the S&P 500 rallied to a new record high, reducing liquidity demand for the dollar. The dollar was also under pressure after US weekly jobless claims rose more than expected, a dovish factor for Fed policy. The dollar on Thursday initially moved higher as T-note yields rose.
US weekly initial unemployment claims rose +6,000 to a 6-week high of 223,000, showing a weaker labor market than expectations of 220,000. Also, weekly continuing claims rose +46,000 to a 3-year high of 1.899 million, showing a weaker labor market than expectations of 1.866 million.
