The dollar index (DXY00) on Thursday rose by +0.08%. The dollar recovered from overnight losses on Thursday and turned higher after weekly US jobless claims rose less than expected, a sign of labor market strength. The dollar extended its gains after a stock market slump boosted liquidity demand for the currency.
The dollar initially moved lower on Thursday amid a stronger yuan, which rallied to a 2.75-year high. Dovish comments from Chicago Fed President Alan Goolsbee also weighed on the dollar, as he said interest rates could come down further this year if inflation does.
