DXY Index is currently trading around the high level of 105.45, realizing gains.
Core PPI for March came in higher than expected on Thursday.
Weekly Jobless Claims also came in hot.
The US Dollar Index (DXY) is currently trading at 105.45, marking its highest position since November 2023. The Greenback continues to rise on the back of hawkish bets on the Federal Reserve (Fed) due to hot inflation figures. A strong labor market also raises the appeal of the Greenback.
After a robust labor market report and signs of rising inflation in March, Fed officials might begin indicating that they need more proof of the economy slowing down before lowering rates. Consequently, US Treasury yields could keep climbing, which would be advantageous for the USD.
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