Dollar Rebounds on Strong Inflation, Claims Data

The dollar index rebounded from early losses, rising 0.1% to reach 102.5 on Thursday, as investors digested data indicating robust inflationary pressures and a persistently tight labor market. The most recent CPI report unveiled a notable uptick in the US inflation rate, reaching 3.4% in December, marking the highest level in three months and slightly surpassing market expectations set at 3.2%. Furthermore, the monthly CPI showed a 0.3% increase, exceeding forecasts of 0.2%. The annual core inflation, although easing, remained at 3.9%, falling less than anticipated. Meanwhile, the number of jobless claims decreased by 1,000 to 202,000 last week, hitting the lowest point since mid-October.

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