NEW YORK : The dollar rose in choppy trading on Thursday as investors assessed the latest data on the labor market and comments from Federal Reserve officials for the path of interest rates, while bitcoin continued its march toward the $100,000 level.
Weekly initial jobless claims dropped 6,000 to a seasonally adjusted 213,000, a seven-month low, and below the 220,000 estimate of economists polled by Reuters, indicating job growth rebounded after being disrupted by hurricanes and labor strikes last month.
"Some of the Trump-trade euphoria that was in the market is starting to wear off a little bit, but it's still there and people are still rebalancing their portfolios, which is driving things towards the dollar generally speaking, at the margin today," said Brad Bechtel, global head of FX at Jefferies in New York.
European Central Bank policymaker Francois Villeroy de Galhau said tariff hikes under the new Trump administration do not shift the inflation outlook in Europe. Safe-haven currencies such as the Japanese yen and Swiss franc strengthened on the latest potential signs of the conflict between Ukraine and Russia escalating.
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