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The dollar index (DXY00) rose by +0.26% on Thursday. The dollar moved higher on Thursday amid the +6% surge in WTI crude oil to a 3.5-month high, which boosted inflation expectations and could persuade the Fed to raise interest rates. Also, Thursday's jump in T-note yields strengthened the dollar's interest rate differentials. In addition, falling stocks on Thursday boosted liquidity demand for the dollar.
Thursday's US economic news also supported the dollar, with stable weekly jobless claims and stronger-than-expected Aug PPI. The dollar fell back from its best level after US Aug existing home sales fell to a 14-month low.
Dollar Supported by Rising Crude Prices and T-Note Yields
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