The dollar index (DXY00) this morning is up by +0.12%. The dollar recovered from early losses today and moved higher as T-note yields rose after today’s US economic reports showed weekly jobless claims rose less than expected and Q1 unit labor costs rose more than expected, hawkish factors for Fed policy. The dollar today initially moved lower on negative carryover from Wednesday when Fed Chair Powell said it was “unlikely” that the Fed's next policy move would be to raise interest rates.
Weekly US initial unemployment claims were unchanged at 208,000, showing a stronger labor market than expectations of an increase to 211,000.
