
The dollar index (DXY00) Thursday rose by +0.07%. The dollar on Thursday rose modestly after US Q1 nonfarm productivity rose as expected. Also, higher T-note yields on Thursday were favorable for the dollar. In addition, hawkish comments from Chicago Fed President Goolsbee supported the dollar when he said fiscal policy uncertainty may lead to fewer Fed rate cuts.
Limiting gains in the dollar was a larger-than-expected increase in weekly US jobless claims, a dovish factor for Fed policy. Also, strength in the yen weighed on the dollar as the yen rallied to a 1-3/4 month high Thursday.