NEW YORK: The dollar index traded in a narrow range on Thursday as traders looked toward an upcoming inflation report closely watched by the US Federal Reserve.
The index, which was down 0.1% in the morning in New York, is heavily weighted toward the euro and showed little movement as US bond yields ticked up on new economic data showing declining job losses.
The euro was up 0.1% at $1.2203.
But the British pound rose 0.4% to $1.4173 after a Bank of England policymaker said the central bank is likely to raise interest rates well into next year and that an increase could come earlier.
The US dollar fell 0.5% to 1.20613 Canadian dollars.
The Bank of Canada has been quicker than other central banks to pull back support for economic growth.
China’s yuan appreciated to 6.368 per dollar in offshore markets, a three-year high, and then eased off to Wednesday’s level. Investors have been raising their bets on further strength, confident that the People’s Bank of China is not displaying discomfort with the rally.
Cryptocurrency bitcoin rose about 3% to $38,397 and ether lost 1% to $2,858.
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