Reuters reported that, The US dollar grew for the fourth time in the past five sessions as economic data on the labor market helped affirm the fact that the U.S. Federal Reserve will be more aggressive in taking steps to curb inflation.
Weekly initial jobless claims fell to a seasonally adjusted 187,000 last week, the lowest level since September 1969 and below the 212,000 forecasts.
While new durable goods orders unexpectedly fell in February as shipments slowed, demand for goods remained strong. In addition, a measure of business activity for March climbed to an eight-month high.
Federal Reserve officials’ data and recent comments have strengthened views that the central bank will hike rates by more than 25 basis points at its next policy meeting in May. Expectations for a hike of 50 basis points at that meeting are 70.5%.
