The Dollar firmed against its peers and traded near a six-month high against the yen on Thursday as the U.S. Labor Department’s expectation-beating inflation report boosted confidence in the world’s top economy.
The latest U.S. economic data reaffirmed expectations that the Federal Reserve will hike interest rates two more times this year.
The U.S. Dollar Index, which tracks the greenback against a basket of currencies, was up 0.04% at 94.76 by 12:11AM ET (04:11 GMT).
Meanwhile, the USD/CNY pair rose 0.15% to 6.6911 on Thursday. The Chinese yuan sank as much as 1.1% overnight and saw its biggest loss since January 2016 amid escalating trade concerns between the U.S. and China.
