The U.S. Dollar index rose against the basket of six major currencies to end Thursday’s trading session in the green.

The U.S. Dollar index rose against the basket of six major currencies to end Thursday’s trading session in the green.

August 4, 2018 Off By Yhumi Tsun

The U.S. Dollar index rose against the basket of six major currencies to end Thursday’s trading session in the green at 94.99 despite the interest rate hike in the UK, as the index was supported by the initial jobless claims data.

On Thursday, the Department of Labor in the United States reported that the initial jobless claims increased by only 1000 reaching 217,000 in last week, beating the expectations of an increase of 3000.

Investors are monitoring the non-farm payroll data which would be released today.

In the UK, the BOE increased its interest rate for the second time since the financial crises; the interest rate increased by 25 basis points reaching 0.75 percent. The BOE stated that a further interest rate hike would not be soon, adding that the lake of progress on Brexit talks might affect monetary policy decisions.

The Great British Pound fell against the U.S. Dollar to end the session sharply lower at 1.30155 GBPUSD, while EURUSD dropped to close the session in the red at 1.15839.

Regarding safe-havens, the greenback fell against the Japanese Yen to end the session lower at 111.65 USDJPY, while it rose against the Swiss Franc to close higher at 0.9951 USDCHF. Regarding the precious metal, Gold prices dropped on Thursday to end the session in the red at 1207.65 XAUUSD.

Elsewhere in Canada, the greenback rose against the Loonie dollar to end the session up at 1.3023 USDCAD despite the increase in oil prices on Thursday, where U.S crude oil increased to end the session higher at $68.97 a barrel.

In Asia, both Aussie and Kiwi dropped against their U.S counterpart to close the session on negative notes at 0.73692 AUDUSD and 0.67412 NZDUSD.

Regarding Cryptos, the Bitcoin and Ethereum rose against the Greenback to end the session at 7520.81 BTCUSD and 408.26 ETHUSD, while LTCUSD closed the session flat at 74.40.