The US Dollar (USD) strengthened to start the new year as trading conditions returned to normal after the holiday season.
The US economic calendar will feature the ISM Manufacturing Purchasing Managers' Index (PMI) data for December later in the day. Investors will also be looking for comments from central bank officials.
The USD Index rose more than 0.7% on Thursday and hit its highest level since November 2022 above 109.50.
On Friday morning, the index retreated towards 109.00. The risk-averse market mood helped the USD outperform its rivals on the first trading day of the year.
Additionally, data released by the Labor Department showed that weekly Initial Jobless Claims fell to 211,000 from 220,000 in the previous week, further supporting the USD.
Source: FXStreet
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