On Friday (May 26) in the Asian session, the U.S. dollar index first rose and then fell. It is currently trading around 104. As of 9:18 Beijing time, the U.S. dollar index was quoted at 104.21, a decrease of 0.01%, the lowest exchange rate of the U.S. dollar index on the previous trading day At 103.81, the closing price was 104.23. The dollar strengthened for a fourth straight session against a basket of major currencies on Thursday, hitting a two-month high, as U.S. data showed the economy remained resilient even amid an aggressive Fed rate hike cycle.
U.S. initial jobless claims rose 4,000 to 229,000 last week, below a Reuters estimate of 245,000, while data for the previous week was revised down sharply, suggesting few signs of cracks in the labor force. Gross domestic product (GDP) grew at a revised 1.3% annualized rate in the first quarter, up from the initial 1.1% reported last month. Fears of a possible U.S. default have supported the dollar recently as talks in Washington continue to raise the $31.4 trillion debt ceiling.
