NEW YORK, June 29 (Xinhua) — The U.S. dollar strengthened on Thursday with help from a robust U.S. GDP studying and less-than-expected unemployment claims.
The dollar index, which measures the buck towards six main friends, elevated 0.42 % to 103.3432 in late buying and selling, climbing to a two-week excessive.
The U.S. economic system grew at an annualized tempo of two % within the first quarter, considerably higher than the earlier estimate of 1.3 %, in keeping with knowledge issued by the U.S. Bureau of Economic Analysis on Thursday morning.
Meanwhile, U.S. weekly preliminary jobless claims final week decreased by 26,000 to a seasonally adjusted 239,000, the biggest drop in 20 months and under the expectation of 265,000 by economists polled by Reuters.
After the report, the yield of U.S. 2-year Treasury notes hit its highest stage since March 8, rising 16 foundation factors to 4.882 %. The yield of the 10-year Treasury bonds rose by 13.44 foundation factors and closed at 3.846 %, the best since early March.
Speaking at an occasion held by the Spanish central financial institution on Thursday, Federal Reserve Chairman Powell indicated that the Fed is prone to resume its price hike path after a pause earlier this month.
In addition, Atlanta Federal Reserve President Raphael Bostic mentioned on Thursday that the Fed must improve charges if value progress strikes away from goal, or inflation expectations begin to transfer in “a difficult way.”
In late New York buying and selling, the euro fell to 1.0867 U.S. {dollars} from 1.0922 {dollars} within the earlier session, and the British pound was right down to 1.2613 U.S. {dollars} from 1.2648 {dollars} within the earlier session.
The U.S. dollar purchased 144.8870 Japanese yen, larger than 144.3170 Japanese yen of the earlier session. The U.S. dollar rose to 0.8999 Swiss franc from 0.8965 Swiss franc, and it decreased to 1.3243 Canadian {dollars} from 1.3254 Canadian {dollars}. The U.S. dollar was as much as 10.8615 Swedish Krona from 10.7726 Swedish Krona.