The dollar index (DXY00) today is up by +0.39%. The dollar is climbing today as soaring crude prices are boosting T-note yields, strengthening the dollar's interest rate differentials. Also, today's US economic reports, which showed a smaller-than-expected increase in weekly jobless claims and a larger-than-expected increase in Q4 nonfarm productivity, are supportive of the dollar. Gains in the dollar accelerated today on hawkish comments from Richmond Fed President Tom Barkin, who said he expects "a couple of months of high inflation."
US Feb Challenger job cuts fell -71.9% y/y to 48,307.
