The dollar index (DXY00) today is down by -0.48%. The dollar is moving lower today after US weekly jobless claims rose more than expected to a 6-week high, a dovish factor for Fed policy. Also, the euro moved higher and weighed on the dollar as French political tensions eased after National Rally leader Le Pen said France could pass a budget for 2025 in the next few weeks. Hawkish comments from San Francisco Fed President Daly pushed T-note yields higher and were supportive of the dollar when she said there's "no sense of urgency" for the Fed to lower interest rates.
US weekly initial unemployment claims rose +9,000 to a 6-week high of 224,000, showing a weaker labor market than expectations of 215,000.
