The Dollar was choppy in N.Y. on Thursday, though ultimately ended the session slightly lower overall. Treasury yields initially popped on the back of the hotter U.S. PPI and better jobless claims data, which helped the USD at first, though yields later eased back toward Wednesday’s lows, as markets continue to believe the Fed that inflation is transitory. The DXY subsequently pulled back, ending the session near 90.08, after ranging between 90.31 and 89.99. Wall Street looked through the surge in CPI, with major indices all higher into the close. Friday’s U.S.

The currency majors have been idling into key U.S. data and the ECB meeting. Global stock markets have also been lacking direction, while most industrial commodities are moderately lower today. The dollar yesterday dropped and then recovered, tracking the direction of longer-dated Treasury yields. The 10-year T-note yield hit a three-month low near 1.470%, which coincided with the DXY dollar index hitting a nine-day low at 89.84. Yields then steadied and lifted some, which saw the dollar index recoup to levels around 90.20.

The currency majors have been idling into key U.S. data and the ECB meeting. Global stock markets have also been lacking direction, while most industrial commodities are moderately lower today. The dollar yesterday dropped and then recovered, tracking the direction of longer-dated Treasury yields. The 10-year T-note yield hit a three-month low near 1.470%, which coincided with the DXY dollar index hitting a nine-day low at 89.84. Yields then steadied and lifted some, which saw the dollar index recoup to levels around 90.20.