The DXY stabilized at 104.15 on Thursday after reaching a daily high of 104.40.
Weekly Jobless Claims came in higher than expected in the week ended in February 3.
Markets digest Fed official Barkin's words.
The US Dollar (USD) steadily rose on Thursday, initially to 103.45 and then stabilizing at 104.15 on the back of positive Initial Jobless Claims figures. However, bulls seem to be running out of steam due to a lack of fresh drivers, while Federal Reserve (Fed) speakers refuse to give additional guidance on the bank’s next steps.
The US Federal Reserve's Chair, Jerome Powell, commented that he considered a cut in March “unlikely”, adding that the bank needs more evidence on inflation coming down to gain confidence for cutting rates. Several officials were on the wires this week but didn’t give new guidance, basically confirming that the Fed awaits more data and disregards cuts in March.
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