The dollar has strengthened this morning, recovering from its losses on Wednesday, as market mood turns more cautious.
The greenback’s strength comes from recent US data. Inflation figures beat market expectations and initial jobless claims fell in line with predictions to 375,000.
PPI data was released yesterday too, the second set of inflation figures in two days, and revealed that producer prices rose by 7.8% year-on-year, beating market expectations. It was also the highest annual rate since November 2010 and could implicate the Federal Reserve’s decision over tightening monetary policy.
Consumer sentiment data will be released later today.
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