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Barchart
Barchart
Rich Asplund

RARE PHOTOS: Dollar little changed as stocks rally | Rare Historical Photos

Jeff Schmid US Federal Reserve Kansas City Fed BOJ ECB United States Gold Euro Inflation PBOC

The dollar index (DXY00) rose to a 1-week high today and is up +0.01%. The dollar found some support today after weekly US jobless claims unexpectedly declined, a sign of strength in the labor market. Also, hawkish comments today from Kansas City Fed President Jeff Schmid supported the dollar when he said current Fed policy isn’t in restrictive territory. However, the dollar gave up nearly all of its gains as stocks rallied, which curbed liquidity demand for the dollar.

US weekly initial unemployment claims unexpectedly fell -4,000 to 203,000, showing a stronger labor market than expectations of an increase to 208,000.

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