The US Dollar Index (DXY), which tracks the US Dollar (USD) against six major currencies, extends its winning streak for a third consecutive day amid improved Treasury yields.
The DXY is trading near 104.00 with 2- and 10-year yields on US Treasury bonds standing at 3.96% and 4.29%, respectively, during Asian hours on Friday.
The Greenback strengthened after better-than-expected jobless claims and weaker-than-anticipated Producer Price Index (PPI) data released on Thursday.
Traders now await the preliminary Michigan Consumer Sentiment Index for March, set for release in the North American session.
In the labor market, US Initial Jobless Claims came in at 220,000 for the week ending March 7, below the expected 225,000. Continuing claims also fell to 1.87 million, beating forecasts of 1.90 million, signaling a resilient US job market.
Meanwhile, inflationary pressures eased further. The US PPI rose 3.2% year-over-year in February, down from 3.7% in January and below the 3.3% market forecast. Core PPI, which excludes food and energy, increased 3.4% annually, compared to 3.8% in the previous month. On a monthly basis, the headline PPI remained unchanged, while core PPI edged down by 0.1%.
Source: FXStreet
