The greenback soared as rate-hike bets increase as US unemployment claims decline
The greenback edged up versus its major pairs, the number of Americans requesting new unemployment benefits surprisingly decreased last week, according to data, raising hopes that the Federal Reserve will keep raising interest rates if the economy remains robust. The dollar rose against a basket of currencies on Thursday as a result.
For the week ending July 15, the Labor Department reported that initial claims for state unemployment benefits decreased by 9,000 to a seasonally adjusted 228,000. Reuters polled economists, who predicted 242,000 claims for the most recent week.
Investors will pay close attention to any fresh information provided by Fed Chair Jerome Powell following the U.S. central bank's interest rate decision on Wednesday in order to determine whether the bank will likely hike rates once more in September.
The dollar index ticked up versus its major pairs by 0.21% to 100.44.
EUR/USD slumped by 0.15% to $1.1184.
GBP/USD edged down by 0.48% at $1.2875.
USD/JPY added to 139.83.