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Dollar gains for fifth straight session on solid labor data

Published by
Reuters UK

By Chuck Mikolajczak NEW YORK (Reuters) -The dollar index climbed for a fifth straight session on Thursday after labor market data showed job growth, keeping expectations for an interest rate cut from the Federal Reserve in check. Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 187,000 for the week ended Jan. 13, the lowest level since September 2022, the Labor Department said on Thursday, short of the 207,000 expectation of economists polled by Reuters. The data followed a stronger than expected retail sales report on Wednesday. “The market’s doing what …

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